Wally Weitz has been playing the value game for a couple of decades; here is what he is saying today:
- He thinks companies are reasonably valued today, not cheap,
- He is sitting on cash balances of 25% to 30%,
- He is hoping the investing public has a bit of panic and drives down prices 10% or more.
- His ideal company is one that generates more cash than the business needs and has a management team that will deploy that cash intelligently.
- Examples of such companies that Weitz provides are Wells Fargo (WFC), Valeant Pharm (VRX) and Texas Instruments (TXN).