Chris Davis: Banking on Boring, Reliable Franchises

The Long View

Morningstar

Finance, Dan Lefkovitz, Amy Arnott, Entrepreneurship, Investing Leaders, Jeff Ptak, Investors, Christine Benz, Influential Investors, Careers, Long-term Investing, Financial Services, Business, Investing, Morningstar

4.5 • 775 Ratings

🗓️ 15 April 2020

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

The manager of the Davis NY Venture fund offers his thoughts on how best to sift for bargains post-sell-off, his team’s fondness for financial stocks, and why Berkshire hasn’t made any acquisitions yet.

Transcript

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0:00.0	At Jackson, we've created a digital retirement planning experience with you and mine.
0:05.5	Visit jackson.com to explore our easy-to-understand resources and user-friendly tools
0:10.1	that are designed to enable financial professionals and clients to plan a path to financial freedom.
0:15.5	Jackson is short for Jackson Financial Incorporated, Jackson National Life Insurance Company, Lansing, Michigan,
0:20.5	and Jackson National Life Insurance Company of New York, purchase New York.
0:26.5	Please stay tuned for important disclosure information at the conclusion of this episode.
0:32.4	Hi, and welcome to the Longview. I'm Jeff Patak Global Director of Manager Research for Morningstar Research Services. And I'm Christine Ben's, Director of Personal Finance for Morningstar Inc. Our guest
0:42.7	this week is Chris Davis. Chris is a portfolio manager at Davis Advisors, where he runs a number of
0:48.2	strategies, including the Davis New York Venture, Selected American, and Clipper Funds. Chris joined Davis in 1989 and has more than 28
0:57.2	years experience in investment management and securities research. Among other accolades,
1:03.0	Chris was the recipient of the Morning Star Domestic Equity Fund Manager of the Year Award in 2005.
1:09.4	He received his MA from the University of St. Andrews in Scotland.
1:14.1	Chris, welcome to the Longview. Thanks so much, Jeff. It's good to be here.
1:17.9	So it seems like a logical place to start is to talk about what your work arrangement is.
1:21.9	We've all had to get creative and adapt to our new circumstances. Can you tell our listeners
1:27.2	a little bit about how you're
1:29.0	working, for instance, where you're working and how it is you collaborate with your team?
1:34.5	Well, sure, Jeff. I mean, you know, it's almost a perversion to talk about anything good coming
1:40.4	out of 9-11. But of course, having our research team based in New York City on that day,
1:46.0	one of the byproducts was just an absolutely bulletproof business continuity plan that we put in
1:52.5	place then, that we test regularly. So in a sense, we were able to not miss a beat in terms of
1:59.1	just having all of our systems, both as a research and a portfolio
	...

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