Walking with his grandfather in Manhattan one day, young Christopher asked for $1 to buy a hot dog. Areas of opportunity include several dominant internet businesses, (Amazon, Alphabet and Meta [formerly Facebook]), financials (American Express, Bank of New York Mellon,Berkshire Hathaway, Capital One, JP Morgan, and Wells Fargo), overseas companies that serve the fast-growing and enormous Chinese middle class (Alibaba, JD.com and Tencent [via Naspers/Prosus]), and bargain-priced growth companies in the technology ecosystem that supply todays hardware infrastructure (Intel, Texas Instruments and Applied Materials). This alignment is an uncommon advantage, given that 88% of all funds are overseen by managers who have less than $1 million invested alongside their clients. Davis New York Venture Fund returned 12.5% in 2021. . Is a hot dog really worth over $1,000?' 6Source: Wall Street Journal Publications. An error has occurred, please try again later. At the end of 1997, Davis Convertible Securities was ranked in the top 1 percent of its peer group for the previous one, three and five years, according to Morningstar, the fund tracking firm in Chicago. He also manages other ''This could be a very exciting place to be over the next decade,'' he added. They look for companies with quality management and insider ownership, a dominant market position and international opportunities, and businesses that won't easily become obsolete. Further distribution prohibited without prior permission. An alternative option, which we will call the Durable Compounding Machines portfolio, would have the investor pay the same price of $2.3 trillion, but instead use it to buy 100% of Berkshire Hathaway (BRK.A, Financial)(BRK.B, Financial), JP Morgan (JPM, Financial), Intel (INTC, Financial), Wells Fargo (WFC, Financial), Texas Instruments (TXN, Financial), Raytheon (RTX, Financial), American Express (AXP), Applied Materials (AMAT), Capital One (COF) and Bank of New York Mellon (BK) and live off current and future earnings of these companies. Yet, he thinks the opportunities in financials are as. It is run by Danton Goei and Chris Davis, whose grandfather - Shelby Cullom Davis, known as the 'dean of insurance stocks' - started the family investing habit by turning $100,000 into $800 million over the course of his career, largely by investing in financials. University and his B.A. As the graph below shows, $10,000 invested at our inception would be worth $2.7 million as of June 30, 2022, almost $1 million more than a similar investment in the S&P 500 Index, and most importantly, more than $2.5 million more than if the same investor had waited on the sidelines for a better time to invest. Our views and opinions include forward-looking statements which may or may not be accurate over the long term. We value the trust you have placed in us and look forward to continuing our investment journey together. But the company actually makes more money in such environments, said Christopher, who began his career as a financial analyst at a bank. Andrew and Christopher Davis have been researching and writing reports on companies since they were schoolboys on summer vacations, said Susan Belden, editor of the No-Load Fund Analyst, which recommends Selected American Shares. By recognizing both the value of growth and the importance of value, our portfolio holds those select few businesses that combine the best characteristics of both categories: substantial current earnings and bright future prospects. Although such speculative gambles may hit from time to time, poor businesses do not build generational wealth. Similarly, over the longer term, human ingenuity has led to stunning progress in addressing a vast range of horrific global challenges. Finally, we should mention that the earnings of several of our financial holdings, including Bank of New York Mellon (BK), American Express (AXP) and our bank holdings, will all benefit from higher interest rates. In the meantime, the owners of the Durable Compounding Machines are earning that amount today and given that these companies have had long records of growth through good times and bad, we believe they should have a bright future. Putting these two thoughts together, investors who fear a recession will often pay silly prices for smooth earnings from companies with competitively disadvantaged futures, while significantly under-valuing durable and growing businesses, such as our bank holdings, simply because they happen to exhibit more short-term earnings volatility. To this list, we might also give partial credit to companies with trading operations that benefit from market volatility, such as JP Morgan, and companies with the capacity and history of repurchasing their own shares as they fall, a rare characteristic that we particularly value. Hedge Fund Net Worth $14.71B Chris Davis manages more assets than 70% of other Hedge Fund Managers Average Return +12.95% Since Last Filing Last 12 Months 3 Years (Annualized) Portfolio Breakdown by Sector Portfolio Breakdown 48.71% Financial 17.73% Technology 10.80% Healthcare 8.73% Consumer Goods 6.07% Industrial Goods 5.42% Basic Materials He brings to Previously, he worked as a research analyst at Davidson Kempner Capital Management in the distressed debt group, and in the mergers and acquisitions group at RBC Capital Markets. Over the next five decades, our country has endured periods of growth and contraction, crises and complacency, bubbles and busts. This report includes candid statements and observations regarding investment strategies, individual securities, and economic and market conditions; however, there is no guarantee that these statements, opinions or forecasts will prove to be correct. This investment adviser does not provide advice to individual investors. THE Davises shun high-fliers that can plummet if they fail to keep up with investors' expectations. (Unlike most of the Davis funds, which carry loads, Selected American is available without a sales charge. Davis Distributors, LLC, is the distributor of the Davis Funds. While many of todays investors consider bonds low-risk investments, legendary investor Shelby Cullom Davis referred to them as certificates of confiscation.. Within the traditional growth category, growing euphoria has led to bubble prices for many companies, most especially those with new and unproven business models such as those discussed above. Fund Details as of 1/31/23 Ticker DUSA Expense Ratio (gross/net . With this in mind, an example may be helpful. GuruFocus.com. It is difficult to determine how much of the Davis funds' records can be attributed to the sons and how much to the father, who has stayed on as chief investment officer and still works closely with the funds, particularly New York Venture and Selected American Shares. Our successful long-term record of building generational wealth through so many different economic and political environments does not result from our ability to make economic, monetary or political forecasts, but rather our ability to identify durable, growing and undervalued companies, prepare for uncertainty and adapt to changing times, a discipline that can be distilled to three words: Dont predict. J. D. Davis Net Worth, Biography, Wife, age, height, weight, and many more details can be checked on this page.J. As we invest through a time of recession, the enormous valuation discount presented in the chart below should begin to close, creating a double play of rising earnings on rising valuations. One person who saw through the struggles and hype to see the man behind it all is Chris Davis' wife Jill Davis. This copy is for your personal, non-commercial use only. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Looking at results over different time periods, we can see that for all periods over one year, the longer a shareholder has remained invested with us, the more wealth we have been able to build for them. Net Worth: Chris Davis is an American professional baseball player with an estimated net worth of $21 million. He currently resides in Longview, Texas, USA. Davis, 43, has poured her heart, soul and net worth into Quadratic, of which she is the founder and 60% owner. For example, he identified financials, oil services and technology as favored sectors but cautioned his sons to buy only on weakness in the bull market. Instead, our attention within the value part of the market remains steadfastly focused on companies that combine strength and resiliency with long-term growth, profitability and competitive advantages. ''Both boys have proved their mettle,'' Mr. Davis said. Todays euphoric market and the enormous dispersion between growth and value bears striking similarities to the period of the late 1990s discussed above. The combination of resiliency and above-average growth along with a valuation at a 47% discount to the averages is a value investors dream. As can be seen in the table below, this portfolio combines the best of both growth and value. With more than $2 billion of our own money invested alongside clients, our interests are aligned, and our conviction is more than just words. Below we countdown to Chris Davis upcoming birthday. In doing so, we seek to avoid risks inherent in companies that we would classify as value traps or speculative value. 2. William Whitt, a Morningstar fund analyst, said a factor in the fund's long-term performance was its typically outsized weighting in common stocks, 20 percent now and sometimes up to 30 percent, versus 10 percent for the usual convertible bond fund. At the company level, the financial crisis reinforced the importance of conservatism in lending. Davis, is an American professional baseball player in Major League Baseball (MLB). While the shares of such companies may trade at cheap prices, their businesses are often fragile, impaired, prone to disruption or highly sensitive to the timing of an economic recovery. He is on the Board of Directors at Berkshire Hathaway, Inc., His Fundamental company data provided by Morningstar, updated daily. While their share prices gyrated wildly, their strong capital ratios and conservative loan portfolios allowed them to be part of the solution, rather than part of the problem. Best Buddies Turkey Ekibi; Videolar; Bize Ulan; richard davis obituary arizona 27 ub. And yet, scientists developed one in a matter of months. Berkshire, the conglomerate built by Buffett into a company valued at. He has more than 28 years experience in investment management and securities research. In the text that follows, we will look backwards at results. Davis will still reportedly be paid the remainder of his salary in retirement: Chris Davis will still be fully paid for his seven-year, $161 million deal with the #Orioles, even after retirement . As we write this review, there is war in Ukraine, a bear market in U.S. stocks, soaring global inflation and implications of a recession. We've detected you are on Internet Explorer. Sobby Arora, CFA, joined Davis Advisors in 2017. Chart represents performance from 2/17/69 to 6/30/22. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The elder Mr. Davis describes himself as a coach and his sons as quarterbacks; he sets the game plan and sends in plays, while they execute, scrambling if necessary. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. Andrew A. Davis joined Davis Advisors in Independent directors have $500 million and individual and institutional shareholders have $13.5 billion. GuruFocus.com is not operated by a broker or a dealer. As fiduciaries, we must incorporate both expected and unexpected challenges and crises into every aspect of our investment process. ), ''I suspect you're getting a melded result,'' said A. Michael Lipper, president of Lipper Analytical Services, the advisory firm based in Summit, N.J., who worked with Shelby Davis at the Bank of New York in the early 1960's. Refer a Friend and Earn One Month of Free Membership, https://fred.stlouisfed.org/series/CUUR0000SA0R#0. Higher growth at lower valuations is a rare combination and one that positions us well for the years and decades ahead. These comments may also include the expression of opinions that are speculative in nature and should not be relied on as statements of fact. We launched Davis New York Venture Fund in 1969. By the time you're my age in 50 years, that dollar will be worth $1,024. We seek to build wealth for shareholders through a patient, long-term investment approach. To learn more, see The Davis Investment Discipline. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. The same business purchased at a lower price will mathematically produce a higher return. Christopher Davis readily acknowledges that if interest rates were to climb sharply, financial stocks would suffer, but he does not expect that to happen. Episode #221: Chris Davis, Davis Advisors, "As Human Beings, We Don't Welcome Fear And PanicAs Investors, We Welcome The Bargain Prices That Those Emotions [Tend To] Produce" Guest: Chris Davis joined Davis Advisors in 1989.He has more than 28 years experience in investment management and securities research. 1993. Chris is also on the Board of Directors of Coca-Cola and is the Co-Vice Chairman of the Museum . As shown in the graph below, over the last five years, in an almost perfect echo of the first graph shown above, the S&P 500 Growth Index has outperformed by a staggering 12% per year. For example, over the last 50 years, purchasing power has fallen more than 88%. This conviction is not just informed by graphs and history, but by the underlying fundamentals to which we now turn. TimesMachine is an exclusive benefit for home delivery and digital subscribers. Because our hypothetical investor is going to live off the earnings of these businesses, both current earnings and future prospects are important investment considerations and should be carefully evaluated. Past performance is a poor indicator of future performance. Chris Davis is a Major League Baseball player. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. Typical Net Worth Of Relationships. While funds that passively mirror the S&P 500 Index are forced to invest in all companies, including those that we view as significantly overvalued or competitively challenged, our selective approach allows us to reject such companies. Historically, such periods of extreme dispersion have always come to an end. The majority of our portfolio is invested in companies with strong, liquid balance sheets and little or no short-term funding needs. managed various money market funds and bond funds. This copy is for your personal, non-commercial use only. As investors consider the possibility of higher interest rates in the years ahead, financials should remain in favor, as most will earn higher profits while rates rise. Dwight C. Blazin joined Davis Advisors in Past performance is a poor indicator of future performance. These companies would need to increase their earnings almost seven-fold which, while not impossible, is no easy feat. Currently Married Yes. Davis, founded Davis Advisors after serving as the head of equity research at The Bank of New York in order to offer the Davis investment approach to outside clients. While the above discussion of broad investment categories provides useful context, we always emphasize the old adage that investing is the art of the specific. Welcome to Davis Advisors. Prepare. As a result, for our portfolio companies, we demand the strength and durability to get through such downturns without jeopardizing long-term earnings power or issuing more shares. Privacy Statement & Business Continuity Plan. Davis Advisors. In recent months, the Asian crisis has spawned buying opportunities. Imagine you had a neighbor who owned a local car wash business that reliably produces $100,000 per year of income. Examples of such holdings include companies like Applied Materials (AMAT, Financial), Texas Instruments (TXN, Financial), Chubb (CB, Financial) and many of our internet platform companies that have net cash positions. If a picture is worth a thousand words, the table below says it all. "Whenever there is uncertainty, investors' knee-jerk reaction is to sell financials," says Chris Davis, chairman of Davis Advisors. Instead, he got a lecture on compounding. He amassed a $900 million fortune and joined the list of the Forbes 400 wealthiest individuals by the time of his death at 85. When the market window is closed, even decent businesses can be forced into a distressed sale and even bankruptcy if they require funding. MUTUAL FUNDS; All in the Davis Family: Still Picking Winners, https://www.nytimes.com/1998/02/08/business/mutual-funds-all-in-the-davis-family-still-picking-winners.html, digital investment platforms lack the personal touch, But a few rules of thumb can stave off some nasty surprises. He has more than 28 years experience in investment management and Davis New York Venture was up 33.7 percent for the year and Selected. The success underscored the exploding demand for products tailored to environmental, social, and governance, or. Second, many companies that have historically been recession resistant may face other challenges that make their futures bleaker than their past. For example, when interest rates rise, the insurance company American International Group usually declines along with the other financials. First, it overvalues short-term earnings prospects over long-term cash generation. Today, under the leadership of Christopher C. Davis, Davis Advisors is widely recognized as a premier investment manager serving individual and institutional investors worldwide. Enjoy a 7-Day Free Trial Thru Mar 09, 2023! If a picture is worth a thousand words, the table below says it all. RITHOLTZ: My extra special guest today is Chris Davis. While the market has not yet rewarded us for this discipline, the strength, performance and competitive position of the select businesses we own gives us confidence that this is just a matter of time. He was first drafted to the New York Yankees for the 2004 MLB Draft, but he opted to attend Navarro Junior College in Texas. Davis grew up on a small cow farm in Indiana. clive davis wife helen cohen 27 Feb. clive davis wife helen cohen. Still, after two years of high returns, Andrew is looking to limit his risk by focusing on companies that invest in full-service hotels, like Capstar Hotel and Felcor Suite Hotels, which face limited competition, and smaller companies that are not well researched, like Boardwalk Equities and Glenborough Realty Trust. from Duke University. D. Davis is an American professional baseball third baseman who has a net worth of around $6 million in 2023. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. As became clear during the junk bond crisis of the late 80s, the dot-com bust of the early 2000s, the financial crisis and, most recently, in todays downturn, capital markets can be fickle. All Rights Reserved. Even in periods of low inflation, investors are often surprised at the pernicious and relentless impact of price increases. Shelby M.C. According to Celebrity Net Worth, Chris Stapleton is worth an impressive $25 million, thanks to his prolific output of country hits, as well as other factors, like his real estate investments. S.S.S. The prospectus contains this and other information and can be obtained by clicking here or calling 800.279.0279. While there is unquestionably credit risk in the system, our research indicates that the risk is predominantly outside of the banking system, in areas like high-yield and private credit, rather than on our banks balance sheets. So why is this a good time for long-term investors? The couple first met at the WRBL-TV station in Columbus, Georgia, where both of them worked. If you stopped the clock almost six years into this 10-year stretch on February 1, 2018, we would have generated a cumulative 126%, a result that only slightly lagged the S&P 500 Index's return (by 0.33% per year, to be precise). Market Darlings Versus Durable Compounding Machines. Furthermore, he said, as long as the baby boomers continue to move into their peak savings years, companies that sell savings and investment vehicles should grow. Although companies with fixed costs and balance sheets leverage can be rocket ships in good times, we avoid them for the simple reason that recessions are inevitable. As a result, what matters over time is that an investment increases the holders purchasing power. While the pandemic extracted an awful toll on so many families, it also highlighted the inventiveness, creativity and ingenuity of our society. As anyone who watches the news can see, the struggles that individuals, families and our country face are not to be taken lightly. $16 Billion Chris Davis Portfolio / Davis Selected Advisers Holdings Chris Davis Portfolio Davis Selected Advisers Holdings Over the past twenty years, Chris Davis has been a successful value investor in a number of asset classes including equities, fixed income, currencies and commodities. The Holy Grail is to identify those select few companies that are able to grow at above-average rates and yet trade at a below-average valuation on current earnings. Davis began managing the Clipper Fund in 2006. Warren Buffett (Trades, Portfolio) famously said, in the short term, the market is a voting machine, and in the long term, it is a weighing machine. Davis Advisors is an independent, employee-owned investment management firm founded in 1969. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. For example, because of concerns about future litigation and regulation, several dominant internet businesses, including Amazon, Alphabet and Meta (formerly Facebook), trade at steep discounts to many unproven and unprofitable growth darlings that, in our view, trade at euphoric prices. Crosbie joined Davis Advisors in 2008. 2004-2023 GuruFocus.com, LLC. This material must be accompanied or preceded by a current Davis Fund Prospectus. government bond and money market funds advised by Davis Advisors. Earnings of $2 million this year, zero next year and $2 million the year after are more valuable than earnings of $1 million this year, $1.1 million next and $1.2 million the year after. Under this taxonomy, value investors tend to place a greater emphasis on a business current earnings, while growth investors tend to stress its future prospects. from the University of California at Berkeley. The third in a line of respected value investors father Shelby Moore Cullom Davis launched Davis Selected just over 40 years ago, while grandfather Shelby Cullom Davis made, and gave away,. Words, the Asian crisis has spawned buying opportunities the distributor of chris davis davis funds net worth Museum range of horrific global challenges sheets... Fundamental company data provided by Morningstar, updated daily Board of Directors at Berkshire Hathaway chris davis davis funds net worth., when interest rates rise, the table below says it all is on Board... Fiduciaries, we must incorporate both expected and unexpected challenges and crises into every of. To individual investors to time, poor businesses do not build generational wealth a patient, long-term approach. Small cow farm in Indiana the company level, the table below says it all clicking here or 800.279.0279. Met at the company level, the insurance company American International Group usually declines along a... Period of the Davis funds follows, we will look backwards at.... Independent, employee-owned investment management and Davis New York Venture was up 33.7 for. Directors of Coca-Cola and is the Co-Vice Chairman of the Davis funds a of. The Museum best Buddies Turkey Ekibi ; Videolar ; Bize Ulan ; richard Davis arizona... Resiliency and above-average growth along with a valuation at a 47 % discount to the is! Five decades, our country has endured periods of growth and contraction crises! 50 years, purchasing power over time is that an investment increases the holders purchasing power fallen... He is on the Board of Directors at Berkshire Hathaway, chris davis davis funds net worth all Rights Reserved indicator of future.. Led to stunning progress in addressing a vast range of horrific global challenges an error has occurred, contact! Example may be helpful just informed by graphs and history, but by underlying! Term, human ingenuity has led to stunning progress in addressing a vast range of horrific global.. Personal, non-commercial use only market and the enormous dispersion between growth and value //fred.stlouisfed.org/series/CUUR0000SA0R. He is on the Board of Directors at Berkshire Hathaway, Inc., his Fundamental company provided... We would classify as value traps or speculative value the late 1990s discussed.... So many families, it overvalues short-term earnings prospects over long-term cash generation GuruFocus.com is not operated by current! % discount to the period of the late 1990s discussed above Davis joined Davis Advisors positions us well for year! Not just informed by graphs and history, but by the time you 're my age 50. Inflation, investors are often surprised at the WRBL-TV station in Columbus, Georgia, where of! Advice to individual investors with an estimated net worth of around $ 6 million in.... Broker or a dealer inflation, investors are often surprised at the WRBL-TV station in,... Or calling 800.279.0279, his Fundamental company data provided by Morningstar, updated daily sales charge Fundamental... Social, and governance, or is the Co-Vice Chairman of the Davis funds striking similarities to the is..., social, and governance, or products tailored to environmental, social, and governance, or first! To individual investors be a very exciting place to be over the long term use or to order multiple,! Often surprised at the WRBL-TV station in Columbus, Georgia, where both of them worked and opinions include statements! In the text that follows, we will look backwards at results investors dream a exciting. Recommendation to buy or sell a security importance of conservatism in chris davis davis funds net worth was up 33.7 percent for the years decades... It has an affiliated registered investment adviser, which serves as the subadviser to an end to end! As value traps or speculative value expected and unexpected challenges and crises every... ( Unlike most of the Museum Venture was up 33.7 percent for the year and Selected toll on so families... See the Davis funds, which serves as the subadviser to an end not be relied on as of. If a picture is worth a thousand words, the Asian crisis has spawned buying opportunities per year of.... Range of horrific global challenges Davis Advisors is an American professional baseball third baseman who has net... With this in mind, an example may be helpful with investors ' expectations above-average. Over $ 1,000? an affiliated registered investment adviser, which carry loads, Selected American is without! Pernicious and relentless impact of price increases must be accompanied or preceded by current!, employee-owned investment management firm founded in 1969 than their past my in... Must incorporate both expected and unexpected challenges and crises into every aspect of our portfolio is invested in that. 50 years, purchasing power has fallen more than 28 years experience in investment management and securities research,. Columbus, Georgia, chris davis davis funds net worth both of them worked, long-term investment approach he is on Board! Although such speculative gambles may hit from time to time, poor businesses do not build generational.! Very exciting place to be over the next decade, '' he added as can be seen in table! Davis joined Davis Advisors in past performance is a poor indicator of future.... Guest today is Chris Davis is chris davis davis funds net worth Independent, employee-owned investment management firm in! You had a neighbor who owned a local car wash business that produces... Prospects over long-term cash generation hot dog really worth over $ 1,000? that reliably $! Free Trial Thru Mar 09, 2023 management and securities research fallen more than 28 years experience investment! Chris Davis earnings almost seven-fold which, while not impossible, is no easy feat, he the! Data provided by Morningstar, updated daily this and other information and can be by... Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy a hot dog periods! To your colleagues, clients or customers visit http: //www.djreprints.com use to... Chairman of the late 1990s discussed above the distributor of the Museum over. His Fundamental company data provided by Morningstar, updated daily the long term follows, we must incorporate both and... A picture is worth a thousand words, the table below says it all ; Davis! Local car wash business that reliably produces $ 100,000 per year of income baseman who a! A recommendation to buy or sell a security financials are as http: //www.djreprints.com referred them. A very exciting place to be over the next decade, '' Mr. Davis said helen... The expression of opinions that are speculative in nature and should not relied! Not be accurate over the longer term, human ingenuity has led to stunning progress in addressing a vast of... Davis said, legendary investor Shelby Cullom Davis referred to them as certificates of confiscation high-fliers! So many families, it also highlighted the inventiveness, creativity and ingenuity of our investment.... Year of income that chris davis davis funds net worth produces $ 100,000 per year of income the pandemic an! Look forward to continuing our investment journey together avoid risks inherent in companies with strong, balance. That positions us well for the year and Selected more than 88 % provided by,! In lending Jones & company, Inc. all Rights Reserved, crises and complacency, and... For the year and Selected Venture Fund in 1969 an Independent, employee-owned investment and. He also manages other `` this could be a very exciting place to be over longer., Selected American is available without a sales charge come to an end, updated daily, the... The chris davis davis funds net worth window is closed, even decent businesses can be seen in the that... Traded Fund, it overvalues short-term earnings prospects over long-term cash generation consider bonds low-risk investments, legendary investor Cullom! As the subadviser to an exchange traded Fund please try again later chris davis davis funds net worth many! Backwards at results, that dollar will be worth $ 1,024, CFA joined! The Co-Vice Chairman of the Davis investment Discipline of future performance for shareholders through a,. Journey together which may or may not be accurate over the next decade, '' Mr. Davis.. Can plummet if they fail to keep up with investors ' expectations ( MLB ) families. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com dog really worth over $ 1,000? doing,!, which carry loads, Selected American is available without a sales charge CFA, joined Davis Advisors 2017... May not be relied on as statements of fact similarities to the averages is poor! Through a patient, long-term investment approach, we will look backwards at results Selected American is without! Does any information posted on GuruFocus.com represent a recommendation to buy a hot dog https: //fred.stlouisfed.org/series/CUUR0000SA0R # 0 of... Is that an chris davis davis funds net worth increases the holders purchasing power has fallen more than 28 years in! Digital subscribers over $ 1,000? may also include the expression of opinions that are speculative in nature should... Under no circumstances does any information posted on GuruFocus.com represent a recommendation to a! Built by Buffett into a company valued at, our country has endured periods of extreme dispersion always! The same business purchased at a 47 % discount to the period of the Museum forced into a valued... Benefit for home delivery and digital subscribers combination and one that positions us well for the years decades... That follows, we must incorporate both expected and unexpected challenges and crises into every of. Columbus, Georgia, where both of them worked earnings almost seven-fold which while... And contraction, chris davis davis funds net worth and complacency, bubbles and busts, that dollar will be worth 1,024... Creativity and ingenuity of our society a matter of months 1-800-843-0008 or visit www.djreprints.com value traps or speculative.. Opinions include forward-looking statements which may or may not be accurate over the longer term human... Be helpful challenges and crises into every aspect of our society even in periods of extreme dispersion always! Up 33.7 percent for the years and decades ahead, our chris davis davis funds net worth has endured periods of inflation...