First, he's revamped the funds, naming managers with clear responsibility for each. Second, he's cut their holdings from an unwieldy 300-plus stocks to about 200. Third, he's given them sharper definition. Friedman spent two years in London and knows European stocks well. All the funds have carried the Swedish firm Investor AB in their portfolios for years.
Investor owns big chunks of practically every substantial Swedish company.
We are a value shop. These days, that declaration sounds proud but plaintive. James K. Glassman's Investing column now appears on Wednesdays and Sundays. Click here for an index of Articles .