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Nygren Says Market `Overreacting' to Subprime Crisis

April 05, 2007 | About:

Bill Nygren, manager of the top- performing Oakmark Fund, said investors are making a mistake by selling shares of banks such as Citigroup Inc. and Washington Mutual Inc.

Nygren has 13 percent of the $5.9 billion mutual fund's assets in financial stocks, which have declined on concern a rout in the market for subprime mortgages may spread to credit- card and car-loan companies. Shares of Washington Mutual, the fund's biggest holding, dropped 12 percent this year and Citigroup's stock fell 8 percent.

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Rating: 2.4/5 (18 votes)

Comments

kfh227
Kfh227 premium member - 7 years ago
Wow, as a WM share holder, I am happy to read about Bill's opinion.

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