About This Episode

The U.S. equity market is characterized by extreme dispersion. Virtually all the gains in the last eight years have been concentrated in six stocks: the FAANGs plus Microsoft. Strip out those six stocks, and the S&P 494’s performance has been utterly mediocre, roughly equal to that of the rest of the world. Here to discuss the role that dispersion plays in fund management is Chris Davis.

About Our Guest

Chris Davis is chairman of Davis Advisors, an independent investment management firm founded in 1969 with over $28 billion in AUM. As chairman, Chris focuses on maintaining the culture of research, performance and stewardship that has characterized Davis Advisors for more than 50 years. The result is that four out of five Davis equity funds have outperformed their benchmarks since inception. All have low fees and count the Davis family and the firm among their largest shareholders, with over $2 billion invested alongside shareholders.

Show Notes

Here is a link to the Davis Advisors web site, where you can learn more about Chris, his firm and the products it offers. Here is a link to a commentary by Chris on the opportunities in financial stocks. Here is a link to an interview Chris did with Barron’son financial stocks.