Whats your opinion on Dodge & Cox Balanced Fund [whose management team was a winner]?
Dodge & Cox is kind of like a mini-Vanguard. Jack Bogle [founder of Vanguard] was here last week, and he told us that Dodge & Cox is one of the firms he admires more than pretty much everyone else, except maybe American Funds [see this Video Views segment with Bogle]. Last year on the list, we had Dodge & Cox Stock (DODGX ) [as a winner], but we dropped it this year because they closed the portfolio in January. So this is a great way to get the same stock-picking team. And right now, they’re managing more than 65% of the stock portion of the fund. They have, I think, 23 years average tenure on the portfolio — some crazy number like that. They have exceptionally low expenses and excellent stock-picking skills. This fund is still open. And on the bond side, the bond-picking people are also some of the best in the business. But again, you have to think about the fund in terms of asset allocation, because it’s a hybrid. Q: An opinion, please, on MFS funds. A: MFS — well, they have been e
