Here are some links to other reports or commentaries on mutual fund company websites we also think are interesting.
- Ariel Funds Annual Reports – Good overall discussion of value investing concepts.
- Brandywine Monthly Commentary – Good monthly discussion of portfolio management concepts like correlation, portfolio construction and portfolio management in general. An example, “If you are acutely aware of every fluctuation in the U.S. stock market, then you certainly have too much riding on the outcome. You are gambling.”
- Calamos Portfolio Commentary – usually discusses two stocks that worked and two that didn’t.
- Davis Funds– Wisdom of Great Investors
- Diamond Hill Funds– The Importance of Being Long-Term (Revisited)
- Heartland Funds– A Style For All Seasons
- Heartland Funds– 10 Principles of Value Investing. The addition of earnings momentum and stocks with basing patterns is unique to most value investor mutual funds.
- Masters Funds Shareholder Reports. Funds are managed by Davis, Friess, Southeastern Asset, Turner and Wells Capital. Each manager comments on their sub-portfolios.
- Perritt Funds– The Microcap Advantage Report; Less Liquidity Means More Solid Results Article; Micro Caps + Informational Inefficiency = Active Opportunities