TIP254: Value Investing w/ Bill Nygren (Business Podcast)
The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network
Stig Brodersen
4.6 • 3.6K Ratings
🗓️ 4 August 2019
⏱️ 43 minutes
🧾️ Download transcript
Summary
Transcript
Click on a timestamp to play from that location
| 0:00.0 | You're listening to TI-P. |
| 0:02.4 | Boy, it's exciting when we get access to high-powered investors like Bill Nigeron. |
| 0:06.9 | For people not familiar with Bill, he's the manager of Oakmark funds where he manages $17 billion. |
| 0:13.2 | Not only that, but his performance since the 1990s has outperformed the S&P 500. |
| 0:18.4 | On today's show, we talked to Bill about individual companies and also where he values the overall market. |
| 0:24.0 | It's a great episode for learning how to think about valuation and steps for identifying substantial winners. |
| 0:30.0 | So without further delay, here's our discussion with Bill Nigeron. |
| 0:36.8 | You are listening to THE Investors Podcast where we study the financial markets and read the |
| 0:42.2 | books that influence self-made billionaires the most. We keep you informed and prepared for the unexpected. |
| 0:54.5 | Welcome to today's show. My name is Stig Brodus and I'm here today with my co-host Preston Pish. |
| 1:02.7 | And we are super excited to welcome Bill Nigeron from Oakmark funds. Bill, welcome on our show. |
| 1:08.3 | Thank you for having me. I'm excited to be here. |
| 1:11.1 | Well, it's great having you here, Bill. So let me kick off with the first question. |
| 1:15.7 | So you've been in the investing business for decades. You have an Oakmont select fund that has been |
| 1:20.9 | around since 1996 and during that time, the S&P 500 is performed at about 8.25% and your fund |
| 1:28.0 | has performed at 11.16% annually. Talk to us about how you construct a portfolio of 100% stocks |
| 1:36.3 | that has outperformed the market. There are three things that we're looking for that I would say |
| 1:42.4 | all run counter to what efficient market theorists would say anything you do to increase return also |
| 1:49.0 | has to increase your risk. We think these three things simultaneously increase return and reduce |
| 1:55.6 | risk. One is only buying when something's at a significant discount to long-term business value. |
| 2:01.4 | Two is only buying companies where the combination of dividend growth and expected per share value |
| 2:07.5 | growth matches or exceeds what we expect from the S&P. That keeps us out of a lot of the value |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Stig Brodersen, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Stig Brodersen and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.