Jan. 24, 2021
Here is link.
William C. Nygren, CFA: Partner, Portfolio Manager and Chief Investment Officer - U.S. Equities Bill Nygren has been a manager of the Oakmark Select Fund (OAKLX) since 1996, Oakmark Fund (OAKMX) since 2000 and the Oakmark Global Select Fund (OAKWX) since 2006. He is also the Chief Investment Officer for U.S. Equities at Harris Associates, which he joined in 1983; he served as the firm’s Director of Research from 1990 to 1998. Mr. Nygren has received many accolades during his investment career, including being named Morningstar's Domestic Stock Manager of the Year for 2001. He holds an M.S. in Finance from the University of Wisconsin's Applied Security Analysis Program (1981) and a B.S. in Accounting from the University of Minnesota (1980). Moderated by Saurabh Madaan.
My notes for last five minutes:
54:00 - 1:03
Last five minutes about tech bubble back in 2000 and 2001. The growth fund investment firm was out of business, when bubble popped.
To be a successful investor, ......
Back in 2000, people take away 80% of investment from us, since we refused to take technology stocks. Revenue dropped 80%. Would you own one technology fund? If we can find one to fit into our value criteria, then there is time in the future. When technology is out-of-favor, you are ......
Stick to principles.
Feb. 2000, they lost customers. At the end, they were out of business. Market is suddenly to correct itself. The technology name fell down.
Bubble grows, bubble pops.
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