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Holly LaFon
Holly LaFon
Articles (10163)  | Author's Website |

Dodge & Cox Comments on Credit Suisse

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September 12, 2019 | About:

Credit Suisse (NYSE:CS)—a 1.5% position in the Fund—is a leading global wealth manager with attractive growth opportunities serving ultra-high net worth clients. The company recently completed a four-year restructuring program, which resulted in significant asset disposals, cost cuts, and balance sheet recapitalization. Significant litigation liabilities are largely behind the company. Today, Credit Suisse is increasingly generating and distributing capital through dividends and share buybacks. Yet, the company trades at less than nine times forward earnings, and we believe that over a longer-term horizon the company should be able to grow at attractive rates.

From Dodge & Cox Global Fund's second-quarter 2019 shareholder letter.

About the author:

Holly LaFon
I'm a financial journalist with a Master of Science in journalism from Medill at Northwestern University.

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