The JRo Show

Interview with Bill Nygren

69 snips
Sep 28, 2023
Bill Nygren, Chief Investment Officer at Harris Associates, discusses his career, the research process at Harris, stock pitching process, qualities of a good portfolio manager, his personal life, and lessons from his career.
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ANECDOTE

Bill Nygren's Career Path

  • Bill Nygren has been at Harris Associates for 40 years, starting as a generalist analyst.
  • He became director of research, launched Oakmark Select, and manages Oakmark and Oakmark Global Select.
ADVICE

Develop Qualitative Skills

  • Value investing requires patience and conviction, especially when facing unpopularity.
  • Develop qualitative skills like judging management, which improves with experience, not just quantitative ones.
ANECDOTE

Judging Management Takes Experience

  • Nygren's boss advised him against judging management early on, saying experience is key.
  • He emphasized the importance of seeing many management teams before forming opinions.
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