"At the Morningstar Investment Conference, I had a chance to hear directly from manager of several of our 'best buy' funds," says fund expert Mark Salzinger.
In his The No-Load Fund Investor, he discusses a pair of "contrarian" funds: Dodge & Cox Stock (DODGX) and T. Rowe Price Equity Income (PRFDX) recommended for long-term investors.
Salzinger explains, "The managements of these equity funds are sticking to its guns. In the case of Dodge & Cox Stock, this means a continuation of a contrarian focus on large out-of-favor stocks. often in equally out-of-favor sectors.
"In the case of T. Rowe Price Equity Income, this means a continuation of focus on high quality companies that appear historically cheap based on various levels of valuation, including their dividend yield relative to the market.
"Charles Pohl, the chief investment officer of Dodge & Cox and a member of the portfolio management team on DODGX, spoke strongly about what he considers to be the attractive opportunities in financials now that the sector is so out of favor.
"He says that the Dodge & Cox team is focusing on intense analysis of companies within subsets of the financial services industry, looking for stocks that have been beaten down with their peers despite superior operations, including safer historical underwriting standards.
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