Illustrates how the "slow and steady" Davis Investment Discipline does not have to outperform every benchmark in every year to end up outperforming the benchmarks over the long term.

Details what distinguishes Davis Advisors and the fund, and why these attributes should be important to investors interested in pursuing long-term wealth.

Detail on the Davis Investment Discipline, the evolution of this approach over three generations of successful investors, information regarding our process for selecting stocks and what we look for in a company, as well as a profile of the investment professionals at Davis.

A short history of Davis Advisors and our unique approach to building long-term wealth through investing in equities, including: what we look for in a company, how we arrive at an appropriate purchase price and the factors that may prompt us to sell a position.

Fortune highlights an uncommon act of shareholder stewardship: Davis voluntarily reduces management fees.

Portfolio Manager Christopher Davis discusses the current environment from the perspective of a third-generation investor; how bear markets offer an opportunity to buy superior companies at attractive prices; and the four areas that Davis is currently targeting for long-term investment.

Morningstar issues "Stewardship Grades", measuring an investment manager's commitment to shareholders interests. Of the 1000 funds graded, only 3 received both the highest overall grade of "A" and also received "A" grades in each individual component of the score. One of these funds is Selected American Shares. (see resource for disclosure)

A profile of Davis Advisors and Portfolio Manager Christopher Davis. Includes a brief overview of the investment discipline and culture of the firm, as well as Mr. Davis' perspective on the current market and investing rationally in volatile times.

When navigating volatile markets, it can be instructive to revisit the timeless principles that have guided some of history's most successful investors. This resource highlights wisdom from such legendary investors as Warren Buffett, Ben Graham, Peter Lynch, etc.

Insights into the types of investor behavior that we believe foster the creation of long term wealth. Covers such important themes as: expecting and dealing with uncertainty, setting realistic equity return expectations, focusing on the "knowable and important", why emotions can prompt investors to "Buy High / Sell Low", why patience can provide a real investment advantage and more.

This hypothetical advertisement allows the investor to read mutual fund ads with a critical eye and make decisions more appropriate for their long-term goals (Copyright © 2003 by the Investment Company Institute)

This government report was referenced in the Selected American Shares Portfolio Manager Annual Review 2009.