TIP355: Why Facebook Is A Value Stock w/ Bill Nygren & Mike Nicolas
The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network
Stig Brodersen
4.6 • 3.6K Ratings
🗓️ 22 June 2021
⏱️ 55 minutes
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| 0:00.0 | You're listening to TIP. |
| 0:30.0 | You're listening to TIP. |
| 1:00.0 | You're listening to TIP. |
| 1:30.0 | Welcome to the investors podcast. I'm your host, Tray Lockerby. I'm so excited to have Bill |
| 1:40.7 | Nygren and Mike Nicholas back on the show. Welcome back gentlemen. |
| 1:44.7 | Thank you. Thanks, Troy. |
| 1:46.7 | One reason I'm incredibly excited to have you guys back is because last time you were |
| 1:51.4 | on the show, we were talking about Bank of America. This was kind of back in Q4 of 2020. |
| 1:57.8 | At that time, the stock was trading around $21. Of course, this is kind of after the whole |
| 2:02.8 | COVID pandemic that wrecked the market. It's since risen to over $42 and the 100% increase. |
| 2:11.1 | Given the amazing performance, I feel that we have to spend a few minutes on it just to touch |
| 2:15.6 | base on the stock to see how you're thinking about today's price versus the intrinsic value you set |
| 2:20.1 | for prior. Let me just pick it off. I don't think there are any stocks in the market today |
| 2:27.1 | that we're as excited about as we were last December. The whole market is up. Our portfolio has |
| 2:32.5 | done significantly better than the market. As prices go up, we think opportunity is less than |
| 2:38.4 | it was when things were really cheap. The financials are no exception to that. Most of them went |
| 2:44.4 | down a lot in the first two quarters last year. Since November, they've come back a lot. |
| 2:50.8 | In our opinion, they've kind of gone from real cheap to cheap. |
| 2:54.7 | Mike can share more of the detail on Bank America. The story will be the same for half a dozen |
| 3:01.0 | financials in our portfolio. They're not as cheap as they were nine months ago, six months ago, |
| 3:06.6 | three months ago. But relative to really long-term history, we still think the banks and other |
| 3:11.8 | financials are quite attractive today. It was a pretty stressful environment last time we spoke. |
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