10 Questions With Oakmark's Bill Nygren

If valuations matter again, you want to talk with Bill Nygren.

The manager of the (OAKLX Quote)Oakmark Select and (OAKMX Quote)Oakmark funds only buys a stock when he thinks it's selling for less than 60% of what it's worth. That kind of measured approach has paid off over the past three years, especially in 2000. Nygren sees plenty of value in the market and says that he and his analysts have actually started sniffing around some profoundly downtrodden tech stocks.

He might invest in some pretty boring stuff -- financial stocks and the likes of Energizer(ENR Quote) -- but that type of fare has held up a lot better than last year's highfliers. ...