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Special Report

Behind Dodge & Cox Stock's Gold Rating

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The following is an excerpt from Morningstar's Premium Analyst Report for  Dodge & Cox Stock (DODGX), a large-value fund that receives a Gold Morningstar Analyst Rating. Morningstar.com Premium Members can  click here to see the full Analyst Report. Not a Premium Member? Take a free Premium trial to gain access to this and hundreds more reports.

Process Pillar: Positive | 01/06/2014 
This is value investing with a contrarian streak. The fund invests in mostly large-cap stocks that look cheap on a range of valuation measures. Management relies on bottom-up, fundamental research and favors business with good management, competitive advantages, and good growth potential. But these also may be businesses that are under a cloud. When  JPMorgan Chase (JPM) stumbled during the London Whale trading scandal, for example, the team took a position believing it to be a well-run institution with strong franchises.

Laura Lallos has a position in the following securities mentioned above: MSFT, SNY. Find out about Morningstar’s editorial policies.