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  1. Facebook Still Overvalued Despite Remarkable Results

    Video Reports

    Wed, 23 Apr 2014

    Although revenue surged in its mobile segment, the social-networking giant will experience slowing growth in the future, says Morningstar's Rick Summer.

  2. 2 Stock Picks With Miner Advantages

    Video Reports

    Wed, 23 Apr 2014

    Low-cost resources will allow these basic materials names to maintain their profit margins despite a slowdown in China.

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    The Morningstar Minute is our quick take on investments, the market, economic indicators , and more. Join us every day for fresh insights from our analyst team. Elizabeth Collins: We're here today to talk about the basic materials sector . In aggregate, our team here at Morningstar thinks that the basic materials universe is fairly valued. Our price/fair value estimate ratio for the entire sector is 0.97, so it's basically fairly valued. That said, there are a lot of discrepancies by industry and by specific companies, and later on in this segment, I'll tell you about our two top picks in this sector. But first let me set the stage for you with regard to what's going on in the basic materials sector . And the most important thing we're seeing right now for the basic materials sector is our view that China is slowing down its fixed-asset investment. Many commodities, iron ore, copper, for example, have seen a great boom from China building lots and lots of infrastructure over the past decade, and we think that that is simply unsustainable. And as China moves its economy away from fixed-asset investment and infrastructure and more toward household consumption , investment-led commodities, such as iron ore, will suffer whereas commodities that are more tied to consumption, such as oil or precious metals, will do much better. Two companies that I'd like to talk about are [TICKER:BHP] BHP Billiton and [TICKER:VALE] Vale. Both of these companies carry narrow economic moat ratings from us because they have sustainable low-cost advantages. For BHP, it's a diversified miner , and it has advantages in iron ore, petroleum, copper, and coal. Vale's advantages have more to do with iron ore. I mentioned
  3. Dodge & Cox's Dugan on Keys to Bond Investing

    Video Reports

    Wed, 23 Apr 2014

    A three- to five-year investment time frame and the discipline to fully understand an issuer's creditworthiness have served Dodge & Cox Income well, says manager Tom Dugan.

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    our time on that. We have a deep and talented team of industry analysts who follow companies across the globe doing that, leading that effort, credit analysts looking at the covenants and the terms of the deal are all part and parcel of this research process. The most fundamental
  4. Dodge & Cox Income Playing Defense Against Rates

    Video Reports

    Wed, 23 Apr 2014

    Management's foresight to have less rate sensitivity in the portfolio allowed the Gold-rated fixed-income fund to generate a positive return in 2013.

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    markets. People have talked about it for a long time: "When will interest rates finally go up?" And in 2013, they finally went up. We had a negative return for the broad bond market in 2013, the first since 1999 and the worst calendar-year returns since 1994. Overall, the bond market was down 2%. The [TICKER:DODIX] Dodge & Cox Income fund came out of 2013 with actually a positive return, slightly above zero. We managed those challenges pretty well, and the biggest factor in that was how we managed interest-rate risk. We came into the year defensively positioned, which is to say a portfolio that had less interest-rate risk and a lower portfolio duration than the broad bond market And that protected the portfolio on average from the price declines that the index had, so it was very beneficial. What is
  5. Dodge & Cox Stock Finding Many Values in Tech

    Video Reports

    Wed, 23 Apr 2014

    Comanagers Charles Pohl and Diana Strandberg are discovering growth advantages for certain players in the semiconductor and mobile data spaces, particularly in emerging markets.

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    world's reserves now are controlled by state-owned entities. In Mexico, Venezuela or Saudi Arabia , the major oil companies are not participants in that market, but those national oil companies of those countries in many cases very
  6. Low Turnover Creates High Marks for Dodge & Cox Stock

    Video Reports

    Wed, 23 Apr 2014

    Long security-holding periods and high retention of in-house personnel have contributed to this Gold-rated fund's category-leading performance.

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    to retain people because to the extent that we're successful, then the employee shareholders benefit from that. And that's an attractive proposition for them to stay with us. And so we've had very, very low turnover among
  7. Long-Term Themes Pay Off for Dodge & Cox Income

    Video Reports

    Wed, 23 Apr 2014

    The Gold-rated bond fund's patience with contrarian ideas and its valuation-intensive approach helped it deliver above-average returns while its peers struggled last year, says Morningstar's Sarah Bush.

  8. Dodge & Cox Stock Thrives on Research, Conviction

    Video Reports

    Wed, 23 Apr 2014

    This Gold-rated fund's track record is backed by the fund shop's deep pool of research and managers' willingness to stick with a stock during market ups and downs, says Morningstar's Laura Lallos.

  9. 5 Numbers for This Gold-Rated Fund

    Video Reports

    Tue, 22 Apr 2014

    This actively managed portfolio has a very low expense ratio, a well-rounded asset mix, and outstanding long-term performance.

    economic indicators found at 0:01

    The Morningstar Minute is our quick take on investments, the market, economic indicators , and more. Join us every day for fresh insights from our analyst team. Russ Kinnel: [TICKER:VWELX] Vanguard Wellington is a Gold-rated fund, and I can tell its story in five numbers. First number is 0.26%. That's its expense ratio, a very low expense ratio. People often assume actively managed funds are costly and all-index funds are cheap. But this shows that that's wrong. It's an actively managed fund. It only costs 2
  10. Oakmark International's Secret Hiding in Plain Sight

    Video Reports

    Tue, 22 Apr 2014

    The fund's plain-vanilla focus on company fundamentals allows it to uncover value in any kind of stock and has contributed to its long-term outperformance, says Morningstar's Shannon Zimmerman.

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    to dial that down, as you would expect he would, as the prices rose . Stipp: What kind of investor is this a good fund for? We know that investors can find great funds but then use
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