Dodge & Cox

Dodge & Cox is an American mutual fund company, founded in 1930 by Van Duyn Dodge and E. Morris Cox, that provides professional investment management services. Dodge and Cox specializes in value investing[1] and has been described as "best known for its conservatively managed funds with solid track records and modest fees."[2] Having been created during the Great Depression, the firm has "a razor sharp focus on capital preservation".[3] Dodge & Cox practices a team-based management strategy and as of 2017, the firm had US$297 billion in assets under management.[4]

Dodge & Cox
Private (Employee-owned)
IndustryInvestment Management
Founded1930
Headquarters555 California Street
San Francisco, California, USA
Key people
Charles Pohl
(Chairman and Chief Investment Officer)
Dana Emery
(CEO, President, and Director of Fixed Income)
Kenneth Olivier
(Chairman Emeritus)
AUMUS$ 297 billion (2017)
Websitedodgeandcox.com

Headquartered in San Francisco, California, the company offers six no-load mutual funds: a domestic stock fund, an international stock fund, a balanced fund, an income fund, a global stock fund, and a global bond fund. Their balanced fund, comprising 50-70% large company stocks and the remainder in bonds,[5] was established in 1931 and is one of the oldest US mutual funds still in operation as of February 2019.[6]

Due to their devotion to the principles of value investing, Dodge & Cox avoided the worst of the dot com bubble during the late 1990s and early 2000 by limiting their exposure to overvalued and then-trendy internet stocks, thereby significantly out-performing the broader market when the bubble collapsed.[1] According to a 2017 Morningstar, Inc. analysis, the firm's low staff turnover and investing principles have been largely beneficial over the long-term but have also led to "bouts of sluggishness or disappointing results".[4]

References
  1. David B. Zenoff. The Soul of the Organization: How to Ignite Employee Engagement and Productivity at Every Level. Apress, Mar 1, 2014, p. 89
  2. Eric Tyson. Investing All-in-One For Dummies, John Wiley & Sons, Apr 10, 2017, p. 275
  3. Kunal Kapoor, "The Dodge & Cox Difference: An in-depth look at a model fund firm.", (Morningstar, Inc.)
  4. Andrew Daniels (2017) Dodge & Cox: Built to Last, Morningstar.com, accessed 18 Jan 2020
  5. Dodge & Cox Balanced Fund, US News & World Report, accessed 17 October 2019
  6. Barclay Palmer (2019) What Are the Oldest Mutual Funds? Investopedia.com, accessed 17 October 2019


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