As mutual funds put on weight and graduate into the super-heavyweight class, too often they become sluggish and bloated. Yet Dodge & Cox Stock, a mega-fund, has managed its weight gain gracefully. Why?
For one thing, the folks who run Dodge & Cox are a disciplined bunch. Bryan Cameron and Charles Pohl, co-directors of research, explain the rigor that goes into selecting stocks for the portfolio. In-house analysts spend months researching a company before making a purchase recommendation to an investment committee of nine. The average stock holding period is eight years, which Cameron says makes it easier to research companies thoroughly and to manage the portfolio. At last report, Dodge & Cox Stock held 86 stocks, a relatively small number for a $66-billion fund.
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For one thing, the folks who run Dodge & Cox are a disciplined bunch. Bryan Cameron and Charles Pohl, co-directors of research, explain the rigor that goes into selecting stocks for the portfolio. In-house analysts spend months researching a company before making a purchase recommendation to an investment committee of nine. The average stock holding period is eight years, which Cameron says makes it easier to research companies thoroughly and to manage the portfolio. At last report, Dodge & Cox Stock held 86 stocks, a relatively small number for a $66-billion fund.
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