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Not sure if anyone noticed that Selected American Shares is now rated bronze at Morningstar. While not 100% sure, I think that it was rated gold. Feinberg is leaving the firm. Not sure how many people are still invested in this fund. It was dropped from the kip 25 a while ago but it is still on the money 70 list.
Same downgrade from gold for its load sibling (clone?) Davis NY Venture NYVTX.
T'was the week before Christmas. It seems Davis hasn't looked in its stocking yet. It still shows both Selected American and Davis NY Venture as gold rated.
For what it worth the fund is appointing/promoting a long time analyst as a co-manager. Not sure the reason(s) for Ken Feinberg's departure. He has worked with Chris Davis for well over a decade. Anyone has more information? selectedfunds.com/document/read/announcement_dg
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T'was the week before Christmas. It seems Davis hasn't looked in its stocking yet. It still shows both Selected American and Davis NY Venture as gold rated.
selectedfunds.com/document/read/announcement_dg