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Podcast: Money Life with Chuck Jaffe
Episode: Oakmark's Nygren: An 'unusual' recession won't change what works in the market
Description: Legendary mutual fund manager Bill Nygren of the Oakmark Fund, says that any recession would be an unusual one because there has never been such a weak economic environment with such strong labor and other key conditions. That makes it that auto stocks, consumer lending companies and other businesses that typically suffer in a recession could actually perform well. Nygren emphasizes that despite changing conditions, buying high-quality, cash-generating businesses at reasonable prices continues to work, noting that 'there are a lot of stocks today at single-digit P/E multiples,' and that investors who stock up on those names...