Leading value investor Wally Weitz discusses his winning strategy for selecting stocks and his perspective on expensive markets in this episode of the GuruFocus Podcast.
Weitz, who manages the $4 billion Weitz Investment Management, has more than 40 years’ experience applying a Ben Graham-style approach to investing. A conservative investor, he seeks stocks that trade at a significant discount to the price a private owner would pay for the entire company.
Since inception, his Partners III Opportunity Fund, which he manages singlehandedly, has returned 12.44%, beating the S&P 500 return of 10.94%.Ă‚
In the extensive interview, Weitz elucidates his investing process and answers questions ranging from rising markets and geopolitics to individual stocks and what he thinks is inexpensive right now. He issues caution about "raw materials" in place for a correction, and explains why his flagship fund, Partners III, is shorting the S&P 500 and major market indexes.Ă‚
Some of the stocks he talks about are Liberty Global (LBTYA, Financial), Apple (AAPL, Financial), Charter Communications (CHTR, Financial), Amazon (AMZN, Financial), Mastercard (MA, Financial) and Visa (V, Financial).Ă‚
Weitz also responds to readers’ questions taken earlier.
Hear the episode here or subscribe in iTunes. A transcript will be available shortly. Don't forget to follow the podcast on Twitter @gurufocuscast so you don't miss an episode and share with your friends!
