DODGE & COX GOES GLOBAL: The firm's fifth fund will combine the best of its domestic and international funds

摘要

INVESTING IN A NEW MUTUAL fund is usually a crapshoot. But if any new fund deserves the benefit of the doubt, it's DODGE & COX GLOBAL STOCK. It's only the fifth fund from Dodge & Cox in the firm's nearly 80 years of existence. Based in San Francisco, Dodge & Cox has achieved near-cult status among fund aficionados, thanks to strong long-term results, low fees and an almost quaint, committee-oriented approach to picking stocks and bonds. Analysts pitch ideas for the firm's three stock funds (a fourth fund -focuses on bonds). Committee members then vet and stress-test the proposals, with an eye toward identifying stocks that are cheap in relation to a company's earnings and cash-flow prospects over the next three to five years.