RWH058: Winning Ways w/ Bill Nygren
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2:17:11
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.
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