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Podcast: Money Life with Chuck Jaffe
Episode: Oakmark's Nygren on valuations, diversifying and the shrinking large-cap pool
Description: Legendary value manager Bill Nygren, chief investment officer at Harris Oakmark and co-manager of the Oakmark Fund, says "it's a pretty good time for investors, especially those who want to diversify away from the S&P 500 megacap technology risk," but he notes that investors who stick with the biggest stocks will find performance increasingly volatile and homogenous because the growth of the Magnificent Seven stocks has changed the way "large cap" gets defined, cutting the number of stocks that qualify in half over just a few years. "If you're a large-cap growth manager, you're either buying less growth, more...