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This is Masters in Business with Barry Redholz on Bloomberg Radio.

This week on the podcast I have an extra special guest. His name is Chris Davis and he is

Chairman Chief Investment Officer and one of the longest hand-yered managers at Davis

Advisors. They really are a fascinating company. They run over 20 billion dollars and have been

running money for the same families for a long time and much of the money in those portfolios

are their own. They're not quite a family office. They've been a mutual fund shop for over 50 years

but it's always nice to talk to people who eat their own cooking if you are at all interested in

value investing but value in a way that doesn't eliminate companies like Amazon or Google or Apple.

You're going to find this to be a fascinating conversation so with no further ado my discussion with

Chris Davis. This is Masters in Business with Barry Redholz on Bloomberg Radio. My extra special

guest today is Chris Davis. He is the Chairman and CIO of Davis Advisors launched in 1969 to

manage separately managed accounts eventually moving into mutual funds and now ETFs. Davis

Advisors manages over 22 billion dollars. Chris is also on the Board of Directors of Coca-Cola

and is the co-vice chairman of the Museum of Natural History located here in New York City.

Chris Davis welcome to Bloomberg. Thanks so much Barry. It's good to be here.

So let's talk about this industry we're both in. What was the business like when you joined?

Davis Advisors was already an existing company wasn't it? Yeah I mean I feel in a way I've gone

through the full life cycle of the mutual fund industry. I came into it at a time when nobody

cared and then there was a period of time when everybody cared and now we're back to a period of

...