In this episode, William Green chats with investing legend Bill Nygren, who oversees about $25 billion at Harris Associates. Bill is the firm’s Chief Investment Officer for US Equities & co-manages two flagship mutual funds: Oakmark Select & Oakmark Fund. Here, he discusses the processes, principles, habits & mindset that have enabled him to beat the market over three decades.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
05:32 - How Bill Nygren became a contrarian bargain hunter.
18:05 - Why sports gambling companies often refuse to take his bets.
47:56 - What three qualities he seeks in any company.
01:00:05 - How he scored big on Amazon, Google, Apple & Netflix.
01:11:11 - Why he never relaxes his disciplined focus on valuation.
01:16:04 - What he learned from hedge fund star Michael Steinhardt.
01:24:47 - How Bill’s team performs “Devil’s Advocate Reviews” for each stock.
01:33:55 - Why he developed his “Mistake Management Protocol.”
01:46:51 - How to succeed without ruining your health or your family.
01:46:51 - Why he discourages people from entering the investing business.
01:50:46 - What you must sacrifice to achieve greatness.
01:59:08 - How to succeed by aligning yourself with top-decile people.
02:07:13 - Why value investing isn’t dead.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more here.
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Bill Nygren’s investment firm, Harris Associates.
Bill Nygren’s funds, Oakmark Select & Oakmark Fund.
William Green’s book, “The Great Minds of Investing.”
William Green’s podcast interview with Christopher Begg.
William Green’s podcast interview with Ray Dalio.
William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.
Follow William Green on X.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.
NEW TO THE SHOW?
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
Check out our We Study Billionaires Starter Packs.
Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
Browse through all our episodes (complete with transcripts) here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Learn how to better start, manage, and grow your business with the best business podcasts.
SPONSORS
Support our free podcast by supporting our sponsors:
SimpleMining
Hardblock
AnchorWatch
Unchained
Human Rights Foundation
Vanta
Indeed
Fundrise
Onramp
reMarkable
Shopify
Abundant Mines
River Financial
The Bitcoin Way
HELP US OUT!
Help us reach new listeners by leaving us a rating and review on Spotify! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm