The Long View Chuck Bath: The Evolution of a Value Investor
Editor's Note: The following interview with Chuck Bath, comanager of Diamond Hill Large Cap, was recorded on March 4, 2020. As such, it doesn't incorporate recent market volatility, and the manager's views and positions may have changed since the recording.
Our guest on the podcast is Chuck Bath, a portfolio manager who has logged a tremendous record over nearly 40 years. Since 2002, Bath has been manager of Diamond Hill Large Cap, a $6 billion fund that earns a Morningstar Analyst Rating of Gold. He is assistant portfolio manager for Bronze-rated Diamond Hill Long-Short.
Prior to joining Diamond Hill, he steered Nationwide Fund to outstanding returns during 17 years at the helm. An accountant by training, Bath uses a patient value-oriented approach, seeking out companies with above-average returns on capital that are trading below his estimates of intrinsic value.
Background
Chuck Bath bio
Diamond Hill Large Cap DHLAX
Diamond Hill Long-Short DIAMX
"Diamond Hill: Accounting for Taste," by Lawrence Strauss, Barron's, Dec. 12, 2015.
Strategy and Portfolio
"Permanent Change Versus Long-Term Fundamentals," by Chuck Bath, March 10, 2020.
Diamond Hill Intrinsic Value Estimator
Security Analysis, by Benjamin Graham and David Dodd.
Warren Buffett on Durable Competitive Advantage, April 21, 2018.
"Valuing U.S. Equities: A Historical Perspective," by Chuck Bath, Austin Hawley, and Nate Palmer, as presented at the CFA Institute Financial Analysts Seminar in Chicago, Sept. 26, 2014.
International Business Machines
"State AGs, Justice Department Discuss Google Antitrust Probe," by Diane Bartz, Reuters, Feb. 4, 2020.
"The Charles Schwab-TD Ameritrade Merger Shocked Wall Street. Why It Had to Happen," by Lisa Beilfuss and Daren Fonda, Barron's, Dec. 16, 2019.
Organization/Succession
"Diamond Hill Announces Addition of Austin Hawley as Co-Portfolio Manager on Large-Cap Strategy," Dec. 18, 2017.
"Channeling His Inner Buffett," by Marla Brill, Financial Advisor, Dec. 2, 2019.