Investing through Challenging Times

Our thoughts are with our shareholders and their advisors at this time. Below we offer perspective and thoughts on distinguishing between short-term volatility and potential long-term opportunities being created.

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Davis NY Venture Fund Portfolio Manager Commentary

“Investment opportunities are the greatest when investors are more concerned with short-term uncertainty than long-term durability. While we are in a volatile period, share prices of select durable businesses can now be purchased at 50-70% off. By focusing on facts rather than emotions, rational long-term investors can pursue wealth for tomorrow by buying these valuable companies at potentially bargain prices.”

Christopher C. Davis,
Portfolio Manager and Chairman


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* As of December 31, 2019.

1The Attractive Growth and Undervalued reference in this piece relates to underlying characteristics of the portfolio holdings. There is no guarantee that Fund performance will be positive as equity markets are volatile and an investor may lose money.

This material must be accompanied or preceded by a current Selected Funds prospectus. Carefully consider the Fund’s investment objectives, risks, fees, and expenses before investing or sending money. Read the prospectus carefully before you invest or send money. The prospectus contains this and other information and can be obtained by clicking here or calling 800.243.1575. Davis Distributors, LLC, is the distributor of the Selected Funds.

Shares of the Selected Funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including possible loss of the principal amount invested.