Under Pope Francis, however, having a red hat is no guarantee of being given a position, at least not right away. Cardinal Ángel Fernández Artime, for example, received his red hat more than a ...

Pope invests in both value and growth stocks, but avoiding companies with more entrenched problems and continuing to hold mega-cap names have historically given the portfolio a growth tilt.

The archbishops of Tehran and Algiers, born in Belgium and France respectively, will present themselves to the Pope in St. Peter's Basilica on Saturday and receive the purple Cardinal's cap.

Pope invests in both value and growth stocks, but avoiding companies with more entrenched problems and continuing to hold mega-cap names have historically given the portfolio a growth tilt.