David Winters, CEO of the value oriented firm Wintergreen Advisers, was on CNBC today. Winters spoke about global opportunities for US value investors. He likes some multi-national companies like Nestle, as well as Mastercard, which is growing rapidly internationally ‘as the world turns cashless.’ Winters discusses some other companies he likes. The video is embedded below along with a computer generated transcript:
H/T http://www.valueinvestingworld.com
welcome back to squawk. talking about our what’s working series. joining us now
wintergreen advisories ceo, david winter. good morning. good morning. of these picks from
what i gather are virtually outside the u.s. w think the big opportunity is outside north
america and the eu for all the reasons you’ve been talking about. we’re trying to get big
ideas we cake a lot of money with not a lot of risk for wintergreen investors. first, nests. they
are a great company. makes chocolate, infant milk formula. earns money in currency and
bought back stock, a dend, great company, we love it. franklin resources, isn’t that a
domestic company? franklin is based in california. global money manager, have an excellence
global sheet, bought back lots of stock. a big piece ofheir business is overseas. many of the
companies they own has big overseas legs. another is mastercard. we love mastercard
because the world is going cashless. you have big buy back. lots of pre-cash flow and
growing at 20%. even if you go to the grocery store today, people use plastic cards. it’s a
great siness. this one — i don’t know what kind of watch everyone is wearing. you like
swatch watch. why? swatch is the largest watch company in the world. women and men love
watches. sales are growing globally. swatch has low end, medium and high end watches. a
great business and the family that runs it, is just great. i always thought with mobile phones
and so many devices pe carry arod people would stop wearing watches. i don’t have a wat.
you have one? i have a crummy watch. that means there’s an opportunity to sell you a good
one. i don’t want one. watches are really jewelry. that has the th we love the jewelry
business and watch business. another one on your list — i don’t think it’s that controversial,
everyone seems to love this company these ys, google, except the controversy going to
north korea. lots of cash and dominant media company and today internet company. you
don’t think the stocs too high already? if you back out the cash, it really still trades at a very
reasonable valuation. everybody loves google. it appeals to people of every e group and
every nationality. we think it’s a very interesting long term. the only technology company we
own. richmont. they own cartier. women love . the company grows, as china and asia gets
richer, everybody loves bling. you’re buying into bling. yeah. loser on your list, anglo america.
why? anglo. unfortunately, what’s happening in many of the third counries jack they’ll sell
you this mineral and either tax it or want it back. we roelz the economics aren’t as good.
we’ve moved on. how long were you in that stock for? a couple years. one or two others for
us? in terms of investing. berkshire you’re all familiar with, a very interesting special
situation due to buybacks, very little downside, a destic company, and we think you have
reasonable upside and very little down side. one we think is very compelling. in general, blue
chip-wise,n switzerland, we love schindler, elevators and escalators, maintenance
contractor. a great business as the world gets more vert cancel. buy that stock. is that the
boca beach club behind you or a screen pretending to be the boca beach club? a screen
pretending to be the boca beach club. wanted to clarify that. otherwise it would be in
boynton beach. it says boynton beach. that this is boca beach club behind. that’s hard — as
i saw that, i thought, could you be far eugh away that the camera is looking. the one
message i would leave you all with i think there’s a lot of reasons to be optimistic and a lot
of money to be made and why we’re enthusiast
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