Ask Oakmark's Bill Nygren Your Investing Question

Market-beating investor joins GuruFocus for Q&A

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Nov 20, 2017
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GuruFocus readers have several days to ask their investing questions to two noted value investors, Bill Nygren (TradesPortfolio) and Win Murray as part of a GuruFocus Q&A.

Market-beating Bill Nygren (TradesPortfolio) is a manager of the Oakmark Select Fund, Oakmark Fund and Oakmark Global Select Fund at Oakmark. He is also chief investment officer for U.S. Equities at Harris Associates. In 2011, Morningstar named him Domestic Stock Manager of the Year.

Win Murray co-manages the Oakmark Select Fund and serves as the Director of U.S. Equity Research at Harris Associates, which he joined in 2003.

The $89.8 billion Oakmark Funds specialize in value investing and low-priced stock selection. They take a patient, long-term perspective, selecting equities priced below estimated intrinsic value that the they believe will eventually rise to their true value.Â

In addition to discounts and low ratios, the investors also seek businesses with growing free cash flow, intelligent reinvestment and management teams that have an ownership mindset.

Bill Nygren (TradesPortfolio) has appeared on numerous media outlets. In October, he said he did not see markets as expensive, despite being a bargain hunter. “I don’t see the excitement typical at market peaks. We’re still finding stocks to buy," he told CNBC.

Bill’s portfolio has the largest weighting in financial services at 34.5%, with top positions in Citigroup (C, Financial), Alphabet (GOOG, Financial), Bank of America (BAC, Financial), Oracle (ORCL, Financial) and AIG (AIG, Financial).

The Oakmark Select Fund, which Win and Bill co-manage, has Alphabet, Fiat Chrysler (FCAM, Financial), CBRE Group (CBG, Financial), Citigroup and TE Connectivity (TEL, Financial) as its biggest holdings. It has also invested almost a third of its stocks in financials.

Both funds have produced outstanding results. Since inception, the Oakmark Fund returned 12.98% on average annually, and the Oakmark Select Fund posted 12.87% average annual returns.

To ask Bill and Win your questions, simply post them in the comments section below. You’ll get an answer in an upcoming article shortly!