Bill Nygren: Our success has not been based on needing to be at the leading edge of new technology, but we are an extremely data-driven group. There was a time when I think we kept a more useful database on M&A transactions than was otherwise available. Our advantages today are more often based on how we think about value as opposed to having proprietary data. Nygren: One way to answer the question would be to pick either Citigroup or Alphabet because they are the largest holdings in Oakmark and Oakmark Select. Our case for the company rests on the non-earning or, in some cases, money-losing investments owned by Alphabet that obscure both the earnings level and market price for the search business.

Source: Forbes December 07, 2017 19:46 UTC