Skip to Content
Investing Specialists

Greener Pastures

Dale Harvey left the burdens of managing $20 billion for Capital Group to form his own boutique inspired by Thomas Jefferson.

Mentioned: , , , , , , , , ,

Dale Harvey didn't like being popular. In the mid-2000s, Harvey found himself managing $20 billion in mutual fund assets for Capital Group, the parent firm of American Funds. Harvey had built up solid records running diversified sleeves of several team-managed funds such as  Washington Mutual (AWSHX), SMALLCAP World (SMCWX), and  American Balanced (ABALX). His work hadn't gone unnoticed by investors and his colleagues. Each morning, it seemed, he came into the office to find that the lead manager on the funds had earmarked more inflows for him to invest. Most managers wouldn't mind having such a problem. But Harvey considered it a burden.

For starters, he often couldn't build full positions in the out-of-favor companies he preferred without tripping over restrictions on how many of the outstanding shares he could buy. Investing millions of dollars at a time, he also ran the risk of artificially popping stock prices. Most concerning to Harvey, though, was the idea of buying stocks he didn't have high conviction in.

Rob Wherry does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.