Value investor Bill Nyrgen shared his market views in an interview on CNBC's "Halftime Report" Monday.
On market timing: "I think market timing is a fool's game and I don't think there are reasons to believe the stock market is expensive today," Nygren said.
On why he bought Chesapeake Energy: "I think most of the energy companies are valued [on a] enterprise value to EBITDA [earnings before interest, taxes, depreciation and amortization] ratio and that ignores the massive amount of property that Chesapeake has that will become highly valuable if oil and gas prices rise at all from here," he said.
Nygren joined Harris Associates, the investment adviser for Oakmark Funds, in 1983. Oakmark Fund, of which Nygren is
He also discusses:
- General Motors.
- P/E ratios.
- French election and Brexit.
To watch the broadcast interview in its entirety, you must be a CNBC PRO subscriber.