Should You Consider Buying Intercontinental Exchange (ICE)?

Oakmark Funds, an investment management company, released its “Oakmark Select Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The fund returned 4.7% in the fourth quarter compared to a 7.6% return for the S&P 500 Index. For the full year 2022, the fund returned -22.7% compared to the -18.1% return for the S&P 500. The firm is disappointed with the performance of the fund. However, they still focus on creating high-conviction portfolio of undervalued...