The Best Fund You Can Buy

Selected American Shares' focus on high-quality stocks is ideal for this market -- and for the long haul.

Christopher Davis used to be jealous of his father and grandfather. Sure, they had gone through some of the most bruising bear markets ever recorded. But the upside of those painful experiences was that they were able to pick up high-quality stocks at unfathomably low prices. "They could make fortunes by buying companies like Coca-Cola at 12 times earnings and high-quality financials at five times earnings," Davis says. "They just had to buy the great ones and hold them for ten or 15 years."

Now price-earnings ratios on many stocks are nearly as low as they were in the late 1940s and the mid 1970s. "We finally have the same chance they did," says Davis. "And it feels like hell."

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Steven Goldberg
Contributing Columnist,
Steve has been writing for Kiplinger's for more than 25 years. As an associate editor and then senior associate editor, he covered mutual funds for Kiplinger's Personal Finance magazine from 1994-2006. He also authored a book, But Which Mutual Funds? In 2006 he joined with Jerry Tweddell, one of his best sources on investing, to form Tweddell Goldberg Investment Management to manage money for individual investors. Steve continues to write a regular column for and enjoys hearing investing questions from readers. You can contact Steve at 301.650.6567 or