Introduction

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00:00

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Summary

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A discussion on the misperception of cheap stocks not growing rapidly, featuring an example from the portfolio, followed by insights from legendary value investor Bill Nygren and Robert Bierig. Topics covered include Harris Associates' formation, value-based investing strategy, achieving consensus on stocks, analyzing underpriced businesses and industries, the importance of regular stock reevaluation, and references to Bill Nygren's previous interview.

Kyle Grieve chats with Bill Nygren and Robert Bierig about the formation of Harris Associates, their value-based investing strategy, their unique way they have their analysts and portfolio managers come to a consensus on a stock, a deep dive on an exciting underpriced business they’ve recently added in IQVIA, a look at some undervalued industries, the importance of re-evaluating your stocks regularly when information changes, and a whole lot more!

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

13:19 - Why calculations of intrinsic value must be adjusted regularly to ensure a degree of accuracy.

02:44 - Why focusing on long-term returns helps align them with their partners.

02:44 - How a value-based approach has shaped their investing philosophy.

07:10 - The importance of per share growth when looking at growth metrics.

22:16 - A deep dive into one of their newest portfolio additions, IQVIA.

45:42 - Which industries Bill is seeing value in right now.

53:33 - How to look at growth stocks through a value perspective with examples of Adobe and Uber.

And much, much more!

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
Watch or listen to Bill Nygren’s investing appearances here.
Read Robert Bierig’s interview with The Street on his investing philosophy here.
Related episode: Listen to TIP430: From Facebook To Meta And Beyond w/ Bill Nygren or watch the video.
Related episode: Listen to TIP254: Value Investing w/ Bill Nygren or watch the video.

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