Kyle Grieve chats with Bill Nygren and Robert Bierig about the formation of Harris Associates, their value-based investing strategy, their unique way they have their analysts and portfolio managers come to a consensus on a stock, a deep dive on an exciting underpriced business they’ve recently added in IQVIA, a look at some undervalued industries, the importance of re-evaluating your stocks regularly when information changes, and a whole lot more!IN THIS EPISODE, YOU’LL LEARN:00:00 - Intro13:19 - Why calculations of intrinsic value must be adjusted regularly to ensure a degree of accuracy.02:44 - Why focusing on long-term returns helps align them with their partners.02:44 - How a value-based approach has shaped their investing philosophy.07:10 - The importance of per share growth when looking at growth metrics.22:16 - A deep dive into one of their newest portfolio additions, IQVIA.45:42 - Which industries Bill is seeing value in right now.53:33 - How to look at growth stocks through a value perspective with examples of Adobe and Uber.And much, much more!*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCESWatch or listen to Bill Nygren’s investing appearances here.Read Robert Bierig’s interview with The Street on his investing philosophy here.Related episode: Listen to TIP430: From Facebook To Meta And Beyond w/ Bill Nygren or watch the video.Related episode: Listen to TIP254: Value Investing w/ Bill Nygren or watch the video.NEW TO THE SHOW?Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.Check out our Millennial Investing Starter Packs.Browse through all our episodes (complete with transcripts) here.Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Learn how to better start, manage, and grow your business with the best business podcasts.Help us understand our audience better so we can create a more intentional user experience by answering this survey!SPONSORSLearn how Principal Financial can help you find the right benefits and retirement plan for your team today.Get a customized solution for all of your KPIs in one efficient system with one source of truth. Download NetSuite’s popular KPI Checklist, designed to give you consistently excellent performance for free.Be confident that you’ll be small businessing at your best with support designed to help you reach your goals. Book an appointment with a TD Small Business Specialist today.Shape and flex your home loans how you want with Athena. Join the thousands of Aussies taking control of their mortgage today.Your home might be worth more than you think. Earn extra money today with Airbnb.Learn from the world’s best minds - anytime, anywhere, and at your own pace with Masterclass. Get 15% off an annual membership today.Support your success every step of the way with Shopify. Sign up for a one-dollar-per-month trial period today!Support our free podcast by supporting our sponsors.Connect with Kyle: Twitter | WebsiteConnect with Bill: LinkedIn | WebsiteConnect with Robert: LinkedIn | WebsiteSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.