Bill Nygren Quotations

We have not been willing to believe that the spike we'd seen in commodity prices was permanent.

It's one of the few funds that is in such a favorable tax situation. The fund has a large realized loss and an unrealized loss.

With a stock trading at seven-and-a-half times earnings on almost any range of reasonable outcomes, I think that company is dramatically undervalued.

I don't think it has anything personally to do with Bob.

To speak of day traders in any investment context is silly. These people are fulfilling a need for entertainment and are using the stock market for that.

We've been talking to energy companies who are unwilling to make investments that require current oil prices to support them. They don't think prices will remain at this level.

It's amazing how fast the invisible hand of competitive marketplaces is correcting these problems. Two years ago you saw almost no new research come out after the annual 10-K filing. Now when a company comes out with its 10-K, you see half a dozen analysts immediately coming out with a report analyzing all the details.

The fee, in effect, reimburses the funds for the costs short-term traders create,

I have had numerous interviews with reporters who called looking for quotes about tech bargains. I always explain that we believe the best values today are in growing companies outside of the technology sector....To these reporters, it defies common sense that stocks that have declined 80 percent or more are not yet 'values.' That is a testament to how powerful and unprecedented the technology mania was. Even after such large price declines, most of these stocks are still not cheap.

I think fund companies figured out after Peter Lynch and Michael Price retired that there's a downside to creating star managers, ... It needs to be about the firm, not about managers.