Category Archive

In his latest Q4 2021 Market Commentary, Bill Nygren discusses how to apply value investing to growth stocks. Here’s an excerpt from the commentary: Oakmark was one of the first value managers to acknowledge that accounting rules overly penalize the companies investing to grow their businesses. Thirty years ago, we … Read More

In his latest interview on CNBC, Bill Nygren explained why low PE stocks provide a very good hunting ground for long-term investors today. Here’s an excerpt from the interview: At Oakmark we think really long term and you look back over the past decade it has been a great decade … Read More

In his latest interview with CityWire, Bill Nygren discussed why he’s excited about the prospects of a value recovery. Here’s an excerpt from the interview: Nygren: I think the fact that the Oakmark fund has continued to perform well versus value indices shows that our consistent investment philosophy continues to … Read More

In his recent conversation at The Morningstar Investment Conference, Bill Nygren discussed a number of topics including how to pick the winners in a disruptive world. Here’s an excerpt from the conversation: Nygren: I’ve been doing this long enough that I remember when newspapers were viewed as about the safest business … Read More

In his latest Q3 2021 Market Commentary, Bill Nygren discusses the problem with companies chasing short-term profits at the expense of stakeholders. Here’s an excerpt from the commentary: We believe that if stakeholders are mistreated, neither profits nor value can be maximized. CEOs can increase the next quarter’s or the … Read More

In the latest article from Oakmark titled – The Opening Ceremony of the Value Recovery, Bill Nygren believes there is an unusually large opportunity to add value by focusing on stock price rather than just expected earnings growth. Here’s an excerpt from the article: So, is this the end of … Read More

In his latest Q2-2021 Market Commentary, Bill Nygren says investors should avoid activist investments and invest only in those companies that are already well-managed. Here’s an excerpt from the commentary: Some investors like to buy shares in companies that are not maximizing long-term value and then fight for change. We … Read More

In his latest interview on the Natixis Access Series, Bill Nygren discussed what determines the multiple you should pay. Here’s an excerpt from the interview: Nygren: Our view is that the quality of the business is what determines what a fair multiple would be for that business. We would gladly pay … Read More

In his recent interview on the Virtual Value Investing Q&A Speaker Series Event at Brown University, Bill Nygren discusses why value investors should consider owning FAANG stocks. Here’s an excerpt from the interview: Nygren: I mean the way we’ve thought about Alphabet you know it misses a lot of value … Read More

In his latest Q1 2021 Market Commentary, Bill Nygren discusses value’s recent outperformance over growth in two consecutive quarters. Here’s an excerpt from the commentary: Following a painful four years for value investors, we’ve finally had two consecutive quarters where value has outperformed growth, the first time in more than … Read More

In his recent Q4 2020 Market Commentary, Bill Nygren discussed his review of 2020, the rise of Barstool Sports’ Dave Portnoy as the new market guru, his sum-of-the-parts valuation of Facebook, and how value investors can benefit from ‘strong opinions weakly held’. Here’s an excerpt from the commentary: Unlike many … Read More

Oakmark recently released its latest commentary titled – Why Stocks Are Safer Than Cash, which provides a great illustration of why investing in stocks is safer than holding cash, if you’re prepared to consider a long time horizon. Here’s an excerpt from the commentary: If you ask most people whether … Read More

In a recent interview with GuruFocus, Oakmark’s Bill Nygren and Win Murray answered a number of questions on their value investing strategy, portfolio holdings, value traps, and how to deal with positions you’re holding that are running at a loss, but you believe remain undervalued. Here is Nygren’s response: Question: … Read More

During his recent interview with ET NOW, Bill Nygren discussed the impact of intangibles and GAAP accounting, what he looks for in prospective investments, and his thoughts on the current resurgence in day-trading, and why it will not end well. Here’s an excerpt from the interview: I think the problem … Read More

In his latest Q2 2020 market commentary Bill Nygren provided some great insights into his definition of ‘value stocks’ and the reasons why stocks with high P/E’s like Alphabet and Facebook can be considered value stocks. Here’s an excerpt from his commentary: Many strategists now claim that “value looks cheap … Read More

One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More

In a recent interview with Barron’s famed value investor Bill Nygren explained why Alphabet and Netflix fall into the value stock category. Here’s an excerpt from the interview: You own Alphabet and Netflix. Those are not typical value stocks. One of the ways we differ from some value investors is … Read More

In this recent interview with Barron’s Roundtable, famed value investor Bill Nygren discusses how his firm, Oakmark Fund, hedges against the secular changes to traditional value investing. Here’s an excerpt from the interview: Q. You’ve had a great long-term track record, but the last couple of years have been tough. … Read More