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Oakmark
By admin - Posted on April 5th, 2007
Tagged: Bill Nygren, manager of the top- performing Oakmark Fund, said investors are making a mistake by selling shares of banks such as Citigroup Inc. and Washington Mutual Inc. Nygren has 13 percent of the $5.9 billion mutual fund's assets in financial stocks, which have declined on concern a rout in the market for subprime mortgages may spread to credit- card and car-loan companies. Shares of Washington Mutual, the fund's biggest holding, dropped 12 percent this year and Citigroup's stock fell 8 percent.
'Investors are overreacting to the upturn in mortgage delinquencies,' the 48-year-old Nygren said in an interview from his office in Chicago. 'As an investor who's committing money for five years or longer, I'm getting higher-quality companies than usual for less of a premium.'
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By admin - Posted on January 15th, 2007
Tagged: The Oakmark Fund had a very strong fourth quarter and year, up 8% and 18% respectively. Both numbers are in excess of the gains achieved by the S&P 500. Bill Nygren believes that Liberty Capital is selling at a large discount to its asset value, and now its primary asset is DirectTV. So Oakmark sold the majority of their DirectTV shares and increased our position in Liberty Capital. We believe that Liberty Capital deserves to sell at a smaller discount to value, and further, if DirectTV goes up more, so does Liberty’s value. The quarter’s only new purchase was Medtronic (MDT).
Bill Nygren, manager of the top- performing Oakmark Fund, said investors are making a mistake by selling shares of banks such as Citigroup Inc. and Washington Mutual Inc. Nygren has 13 percent of the $5.9 billion mutual fund's assets in financial stocks, which have declined on concern a rout in the market for subprime mortgages may spread to credit- card and car-loan companies. Shares of Washington Mutual, the fund's biggest holding, dropped 12 percent this year and Citigroup's stock fell 8 percent.
'Investors are overreacting to the upturn in mortgage delinquencies,' the 48-year-old Nygren said in an interview from his office in Chicago. 'As an investor who's committing money for five years or longer, I'm getting higher-quality companies than usual for less of a premium.'
- Add new comment
- Read more
By admin - Posted on January 15th, 2007
Tagged: The Oakmark Fund had a very strong fourth quarter and year, up 8% and 18% respectively. Both numbers are in excess of the gains achieved by the S&P 500. Bill Nygren believes that Liberty Capital is selling at a large discount to its asset value, and now its primary asset is DirectTV. So Oakmark sold the majority of their DirectTV shares and increased our position in Liberty Capital. We believe that Liberty Capital deserves to sell at a smaller discount to value, and further, if DirectTV goes up more, so does Liberty’s value. The quarter’s only new purchase was Medtronic (MDT).
The Oakmark Fund had a very strong fourth quarter and year, up 8% and 18% respectively. Both numbers are in excess of the gains achieved by the S&P 500. Bill Nygren believes that Liberty Capital is selling at a large discount to its asset value, and now its primary asset is DirectTV. So Oakmark sold the majority of their DirectTV shares and increased our position in Liberty Capital. We believe that Liberty Capital deserves to sell at a smaller discount to value, and further, if DirectTV goes up more, so does Liberty’s value. The quarter’s only new purchase was Medtronic (MDT).
