We're (exposed to the sector) in a chicken way ... I would never pay the price for that division if it were a separate company.
More Quotes from Bill Nygren:
The people who own Internet stocks are taking on a very high level of risk. Myself and most of the other managers at the conference are concerned about people who own and trade those stocks not understanding the risks they're taking.Bill Nygren
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.
Bill Nygren
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.
Bill Nygren
Disney is a great company with a tremendous portfolio of media properties. I'm not interested in commenting on management issues.
Bill Nygren
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.
Bill Nygren
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