It's been tough times at Tweedy, Browne, the venerable value firm that has been managing money in midtown Manhattan for the better part of a century. By 2005 its stock pickers couldn't find anything to buy, so they closed both their mutual funds and their institutional account business to new customers. Now, with the market down, they are ready to take on more assets-but investors are staying away. In the past year a net $1.1 billion has walked out the door of the $6 billion Tweedy, Browne Global Value Fund, which buys mostly foreign stocks.rnThis is not rational behavior. If you are a believer in value, you should be putting more, not less, money into Tweedy's foreign stocks when they do badly.
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