David Winters is Finding Opportunities Worldwide

By on September 12, 2011

David Winters - Wintergreen FundDavid Winters was complimented on his recent performance which has been superior to the results of Warren Buffett.  Winters has beaten 99% of his peers over the past five years.

Winters was previously interviewed back in December 2010 by CNBC’s Maria Bartiromo (link). In this latest interview with Bloomberg, Winters provided several new ideas amongst his current holdings.

 

In this interview with Bloomberg (see below), Winters said he looks for a trifecta when investing in a company, 1) improving economic performance, 2) management’s that are working for shareholders, and 3) a cheap valuation.  He considers it a great time to be a value investor because people are currently so negative.  In fact, Winters says he could even take in more funds to invest because of the wealth of opportunities.  He currently likes Swiss companies very much including Swatch, Nestle’ and Schindler.  He also mentioned Richemont (owner of Cartier).

Winters commented on his recent additions including Norfolk Southern (“a gem”) and Mastercard (which he considers a great long-term investment despite being up over 50% this year).

Winters said the fundamental problem today is real estate which is currently hard to value.  He added that he had not emphasized investing in financials

Winters, a protege of value investor extraordinaire Michael Price, is to be admired for passing up the opportunity (and obscene compensation) to manage any choice of hedge funds. He made a principled decision to run an open-ended mutual fund, the $1.6 Billion Wintergreen fund.

One Comment

  1. John McMann

    September 12, 2011 at 4:30 pm

    Winters is a great investor, but I guess you have to look at the holdings of his fund to get down to the real bargains. Mastercard and Norfolk Southern are just too popular to get a margin of safety.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>