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The Other Oracle of Omaha: Wally Weitz
Submitted by admin on Fri, 06/01/2007 - 08:13
You have to admire a guy who gives a great reason for not wanting the chief investment officer job at Berkshire Hathaway: too much pressure from having Warren Buffett staring over your shoulder.
Besides, Weitz has been doing just fine on his own. He's been beating the market for a long time. His Value Fund and Partners Value Fund -- among six others in the stable -- have averaged 14% and 14.1% returns per year, respectively, versus 8.2% for the S&P 500. So why leave a good thing behind?
If you don't know much about Weitz's style, know that he runs a pretty concentrated portfolio, and that he's more than willing to hold on to good investments for long periods of time. Sure, he has to comply with mutual fund rules, but he still allocates big money to his best ideas. Speaking of ideas, let's see what we can learn from the changes at Weitz Funds. Here's a peek at what Weitz has been buying -- courtesy of his recent 13-F filings with the SEC -- with the number of shares in thousands.
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