"Buy the manager, not the fund." At Vanguard there are a host of excellent, institutional-quality managers available to individual investors at a very low cost.  "My second fundamental belief is that a good manager running a fund with low operating expenses has a very strong…

Explain your investment process and criteria for investments.

The Brandywine Fund’s managers are bold. They choose stocks they like and sell them when the price or fundamentals are no longer attractive. Brandywine’s managers are not afraid to trade against the market, either…