An Extreme Buying Opportunity (at Motley Fool)

By Tim Hanson July 9, 2008 Comments (0) You probably consider this title salacious, but "extreme" isn't even my word. It's Bill Nygren's. He said on his fund's fourth-quarter conference call, "The values that we're seeing today in financials and retailers are extreme." He also confessed, "I'd love to be coming into the office every morning and putting 20 million new dollars to work each day, because I think the opportunity is very great." That's right. One of the world's best investors is positively giddy about today's buying opportunities. The bad news is that he doesn't have enough money to invest. Ay, there's the rub Bill Nygren -- if you don't know him -- is a value investor. That means he waits for market pessimism to drive the stocks of great companies down to prices far below their true worth. Then he buys and profits.... [read full story]