The Cult of Committee
Vice President of Dodge & Cox Funds, Roger G. Kuo, left, before his meeting with David Hoeft, right, to discuss investment ideas in their San Francisco office on July 10, 2007.
(2 of 2)
In the long run, that collaborativeness bolsters the firm's ability to do what it thinks is best for investors. Consider the 1990s, when tech-stock valuations soared off the charts. Many value investors came under enormous pressure from shareholders and corporate parents to load up on ridiculously inflated stocks. David Hoeft, who covers technology stocks at Dodge & Cox and sits on the domestic-equities committee, recalls a very different experience. "Our job inside the firm got easier," he says. "We trimmed as time went on. We just couldn't rationalize the expectations." No finger pointing. No pressure from the boss. And at the end of the day, no camel either.
- « PREV PAGE
- 1
- 2
Most Popular »
- Nevada Ghosts: Rare Photos From an A-Bomb Test
- A Diamond Jubilee
- Detention of Chinese Fishermen Fuels Anger With North Korea, But Rift Unlikely
- Before and After D-Day: Rare Color Photos
- Etan Patz: After 33 Years, an Arrest in the Disappearance of the 'Milk Carton Boy'
- Marilyn Monroe: Early Unpublished Photos
- India's Petrol Hike: Gas Goes Up, and a City Melts Down
- Which Birth Control Works Best? (Hint: It's Not the Pill)
- 15 Year Old Creates Test For Pancreatic Cancer
- 10 Dangerous Products You Might Have in Your Home
- Researchers Probe the Potential Health Benefits of Palm Oil
- A Visit with Turkey's Controversial Religious Movement
- Feeding the Planet Without Destroying It
- Bubble on the Potomac
- Falcon's Liftoff: How a Private Firm Could Change Space Exploration
- The Fatal Flight of the Superjet 100: Why Did It Slam Into a Mountain?
- Learning That Works
- The Man Who Remade Motherhood
- Bibi's Choice
- Seoul: 10 Things to Do
Top Stories on TIME.com
Quotes of the Day »
