Dodge & Cox (Trades, Portfolio) has revealed an addition to its holding in Fox Corp. (FOXA) according to GuruFocus' Real-Time Picks, a Premium feature.

Dodge & Cox was founded in 1930 by Van Duyn Dodge and E. Morris Cox. The firm employs a team research approach in making investment decisions.The Dodge & Cox team is guided both in what its buys and what it sells by an ongoing search for superior relative value, steering clear of popular choices that come at a price it would rather not pay.

On Nov. 30, the firm made a 32.52%

If you want to increase your chances of beating the market, one method is to select stocks that rank highly in regard to "magic formula" criteria.

About the Magic Formula

Created by Joel Greenblatt (Trades, Portfolio), a prominent value investor and author of "The Little Book That Still Beats the Market," the magic formula ranks stocks based on a specific set of technical criteria. The book also provides a description of these criteria, highlighting the earnings yield and the return on capital as the two

Fox Corp. (FOX)(FOXA), which was formed in early 2018 following The Walt Disney Co.'s (DIS) acquisition of the majority of the assets owned by 21st Century Fox, reported results for the first quarter of fiscal 2021 on Tuesday. Revenue increased 2% to $2.72 billion, with 10% growth in affiliate fees offset by mid-single-digit declines in advertising and other revenue (primarily due to the absence of sports sub-licensing revenue). This led to a 36% increase in adjusted Ebitda to $1.17 billion as well as a 42% increase in adjusted earnings per share (but as I'll explain shortly, the outsized growth in

Yacktman Asset Management (Trades, Portfolio) recently disclosed its portfolio updates for the third quarter of 2020, which ended on Sept. 30.

Headquartered in Austin, Texas, Yacktman Asset Management (Trades, Portfolio) pursues long-term capital appreciation using a growth and value-based strategy. Specifically, the firm looks to purchase the stocks of business that have the following three characteristics: good business (high market share, high cash return on tangible assets, unique franchise characteristics, etc.), shareholder-oriented management (allocates capital wisely, does not overcompensate executives, etc.) and low purchase price. Stephen Yacktman, who joined the firm in 1993, is

Major League Baseball punished the Houston Astros for the way they stole opponents' signs. But there's no penalty for an investment manager stealing ideas from another manager.

In fact, I think one would be foolish not to.

I peek from time to time at the holdings of other managers I respect. In this column, once a year I present my Purloined Portfolio, composed of stocks held by other managers I esteem.

Today's Purloined Portfolio is the 17th one I've compiled, beginning in 2000. The average one-year return for the first 16 outings has been 12.0%, compared to 10.1% for the

According to GuruFocus Insider Data, these were the largest CEO buys during the past week.

J&J Snack Foods

J&J Snack Foods Corp. (JJSF) CEO and 10% Owner Gerald B. Shreiber bought 141,026 shares on Aug. 17 at a price of $130.52. The price of the stock has increased by 1.56% since then.

J&J Snack Foods manufactures, markets and distributes snack foods and beverages to foodservice and retail supermarket outlets. The company's products include frozen beverages, juice, fruit bars, sorbet, cakes and cookies that are distributed to various consumers, including restaurants, supermarkets, convenience stores, universities,

Selecting stocks whose earnings return is more than twice the average of 20-year high-quality corporate bonds enhances the chances to find high-yield investments, in my opinion. This category of investment grade bonds represents corporate loans that triple-A, double-A and single-A rated companies have taken out with their lenders.

Since 20-year high-quality corporate bonds grant a monthly spot rate of 3.18% (as of June 2020) to their holders, the following three stocks may hold value, as they grant earnings returns of more than 6.36% at price-earnings ratios of less than 15.72.

SLM Corp

Shares of SLM Corp (SLM) were trading

Fox Corp. (FOX)(FOXA), which was formed in early 2019 following The Walt Disney Company’s (DIS) acquisition of the majority of the assets of 21st Century Fox, recently reported results for its fourth quarter of fiscal 2020. For the quarter, revenues declined 4% year-over-year to $2.4 billion, with an 8% increase in affiliate revenues offset by a 22% decline in advertising. As shown below, the pace of affiliate fee growth decelerated sequentially from the +10% reported in the third quarter.

The deceleration in the fourth quarter’s affiliate fee growth rate reflects

Baupost Group leader Seth Klarman (Trades, Portfolio) revealed on Monday he boosted his stake in Viasat Inc. (VSAT) by 18.62%.

The guru’s Boston-based hedge fund manages about $29 billion in assets as of June 30, 2019. It searches for value among a broad range of opportunities, including stocks, distressed debt, liquidations and foreign securities. With a long-term horizon, the renowned investor typically seeks securities trading well below his estimate of intrinsic value and waits for the price to rise. In March, Bloomberg reported that for the first time since 2011, Klarman was seeking more capital as

This is the final article in my series about The Walt Disney Company (DIS). Throughout this process, I’ve taken a detailed look at each of the company’s business segments. However, in order to truly appreciate what makes Disney unique, it’s critical to focus on the bigger picture as well.

The advantages that are created when the individual business segments come together as one was summarized by former CEO Bob Iger in early 2019, when he was asked by Barron’s about some of the acquisitions that had proved so critical to the company’s success. This was his response:

According to GuruFocus insider data, these are the largest CEO buys of the past week.

Fox

Fox Corp. (FOX) Executive Chairman and CEO Lachlan K. Murdoch bought 49,498 shares on June 20 at a price of $28.32. The stock has declined 9.07% since then.

Fox represents the assets not sold to Disney (DIS) by its predecessor, Twenty First Century Fox. The remaining assets include Fox News, the FOX broadcast network, FS1 and FS2, Fox Business, Big Ten Network and 28 owned and operated local television stations, of which 17 are affiliated with the

The largest Insider Buys this week were for Fox Corp. (FOX), Royalty Pharma PLC (RPRX), Consolidated Edison Inc. (ED) and Vistra Energy Corp. (VST).

Fox executive chairman and CEO bought 49,498 shares

Executive Chairman and CEO Lachlan K. Murdoch bought 49,498 shares of Fox on June 20 for an average price of $28.32. The stock has fallen 9.07% since then.

Fox is an American television broadcasting company formed from the 2019 acquisition of 21st Century Fox by the Walt Disney Co. (DIS). It was spun off from 21st Century Fox and its stock began trading on March 19, 2019. The

According to GuruFocus Insider Data, these were the largest CEO buys during the past week.

Fox

Fox Corp. (FOX) Executive Chairman and CEO Lachlan K. Murdoch bought 101,556 shares on June 15 at a price of $28.29. The price of the stock has decreased by 1.66% since then.

Fox represents the assets not sold to Disney by the predecessor firm, Twenty First Century Fox. The remaining assets include Fox News, the FOX broadcast network, FS1 and FS2, Fox Business, Big Ten Network, 28 owned and operated local television stations of which 17 are affiliated

According to current portfolio statistics, the largest five holdings in Seth Klarman (Trades, Portfolio)’s equity portfolio as of the March quarter are eBay Inc. (EBAY), Liberty Global PLC (LBTYK), Fox Corp. (FOXA), Viasat Inc. (VSAT) and Alphabet Inc. (GOOGL)(GOOG).

A Harvard University MBA graduate, Klarman founded the Boston-based firm in 1983. As of March, Baupost manages approximately $30.2 billion in assets according to its latest ADV form.

The author of “Margin of Safety” invests in a wide range of securities, including stocks, distressed debt, liquidations, foreign equities and bonds.

Daniel Loeb (Trades, Portfolio)’s Third Point LLC sold shares of the following stocks during the first quarter of 2020.

Campbell Soup

The firm exited its Campbell Soup Co. (CPB) position. The trade had an impact of -8.18% on the portfolio.

The supplier of well-known soup and other convenience food, has a market cap of $15.73 billion and an enterprise value of $21.49 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 98.87% and return on assets of 11.03% are outperforming

In its portfolio for the first quarter, which was released earlier this week, Tweedy Browne (Trades, Portfolio) disclosed three new holdings.

The New York-based firm, which has been operating for a century, is an investment partnership that is owned and operated by its four managing directors, William H. Browne, John D. Spears, Thomas H. Shrager and Robert Q. Wyckoff Jr. Deriving its investment approach from the work of Benjamin Graham, the firm oversees around $4.5 billion in assets through four unique mutual funds. Each of the portfolios is managed according to the same value principles with an

Fox Corporation (FOX), which was formed a year ago following The Walt Disney Company’s (DIS) acquisition of the majority of the assets owned by 21st Century Fox, recently reported results for its third quarter of fiscal 2020. For the quarter, revenues increased by 25% to $3.44 billion, largely due to the fact that Fox broadcasted Super Bowl 54. Adjusted for the big game, which added roughly $600 million in to the top-line, revenues increased by low-single digits in the quarter.

Growth in the quarter (excluding the impact of Super Bowl 54) was driven by affiliate fees,

Fox’s (FOX)(FOXA) shares declined during the quarter as traditional media stocks struggled, in part due to near-term challenges in advertising. With most of the economy shut, there isn’t a compelling reason to air commercials on television. Fox’s main contributor to cash flow, Fox News, has produced strong viewership through the crisis and the company has one of the strongest balance sheets in the traditional media space, in part due to significant tax assets created as part of the Disney transaction, which closed in 2019.

From the AMG [url=https://www.gurufocus.com/StockBuy.php?GuruName=Yacktman+Fund]Yacktman Fund[/url] ([url=https://www.gurufocus.com/StockBuy.php?GuruName=Yacktman+Fund]Trades[/url], [url=https://www.gurufocus.com/holdings.php?GuruName=Yacktman+Fund]Portfolio[/url])'s first-quarter 2020 shareholder letter.

In the first quarter the AMG [url=https://www.gurufocus.com/StockBuy.php?GuruName=Yacktman+Fund]Yacktman Fund[/url] ([url=https://www.gurufocus.com/StockBuy.php?GuruName=Yacktman+Fund]Trades[/url], [url=https://www.gurufocus.com/holdings.php?GuruName=Yacktman+Fund]Portfolio[/url]) (the Fund) returned -21.7%, lagging the S&P 500® Index’s -19.6% fall but significantly outperforming the Fund’s secondary benchmark, the Russell 1000® Value Index, which returned -26.7%.

We hope this letter finds investors well as they deal with the personal, social, and economic challenges brought about by COVID-19. In the first quarter, markets around the globe crashed due to quarantines, business closure, and economic chaos. It was a very busy quarter for the Fund and we put substantial cash to work in new opportunities and fund holdings that became more attractively

An aggressive strategy

In time of crisis, stock investors often fly to defensive stocks. These are companies that will do relatively well during a downturn.

However, using a defensive strategy now is like looking at your rearview window and using that view to decide where to turn next. It would be a great strategy if you executed it prior to the stock market's downturn, or at the very early stages of the crisis. However, it is a little late now because stocks have become more expensive again.

To take advantage of the crisis situation and recovery, I believe investors