Tuesday, April 29, 2008
Longleaf Partners (LLPFX) and Dodge and Cox Stock (DODGX)
These two Kiplinger 25 funds only recently reopened to investors. These are both the kind of large cap value funds that you can feel comfortable recommending to relatives. My own preference, however, is for funds that are more bold and distinct. Morningstar compares them (along with the recently reopened Sequoia SEQIX) in a 04/28/08 article by Dan Culloten, "Fund Junkies' Dilemma: Which Reopened Fund Do I Buy?" Unfortunately, he doesn't really address the issue of how weak these funds have performed over the past five years. You don't want to jump from hot fund to hot fund but you also don't want to rely on past glory (which may be a particular issue with Sequoia).
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