Value-based Investing and Strategies for Success

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The chapter introduces the guests, Bill Nigerin and Robert Bierig, portfolio managers at Oak Works funds, who discuss the history of the fund and its differentiation through value-based investing. They emphasize the importance of educational communication with shareholders, a concentrated portfolio, maximizing after-tax returns, and aligning manager incentives. Overall, the chapter provides insights into Oak Works funds' approach and strategies for success.

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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