Nygren: Don’t Chase Bond Performance; Buy Stocks

Top fund manager Bill Nygren says that the best thing investors can do in 2012 is buy more stocks. “The best idea for 2012 is for investors to increase their equity exposure and decrease bond exposure,” Nygren tells CNBC. “We think stocks are cheap.” He says he thinks it’s a mistake for investors to chase hot bond performance, with many stocks trading at “very, very attractive valuations”. Nygren also says it’s important to think long-term, and not try to time the market in the short term. And he talks about some of his current holdings, like JPMorgan Chase and Intel.