We Study Billionaires - The Investor’s Podcast Network
TIP254: Value Investing w/ Bill Nygren (Business Podcast)
Aug 4, 2019
Bill Nygren, a seasoned portfolio manager at Oakmark Funds, shares his insights on value investing. He discusses why Alphabet Inc. is currently undervalued and explores the investment potential in Mastercard and Netflix. Nygren emphasizes that P/E ratios are often misleading and highlights the importance of shareholder-friendly management. He also addresses what aspiring young investors should know, encouraging a long-term view in stock selection and financial decision-making.
39:50
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Quick takeaways
- Bill Nygren emphasizes valuing companies like Alphabet by analyzing their various segments to uncover hidden growth potential.
- A successful investment strategy involves focusing on management aligned with shareholder interests and recognizing undervalued market sectors.
Deep dives
Investment Philosophy and Portfolio Construction
The approach to constructing a successful portfolio involves investing only when assets are available at a significant discount to their intrinsic long-term value. This strategy also entails selecting companies with strong dividend growth and per-share value growth that can compete or exceed market expectations. Furthermore, an emphasis on aligning with management teams that share ownership objectives and prioritize long-term business value is crucial. Typically, these investments are held for at least five years, barring any rapid changes in market valuations that align with the expected growth rate.
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