Once upon a time, in the magical world of Wall Street, there were performing value managers who had been around the block for decades. They knew their way around the stock market like the back of their hands. Enter, Bill Nygren – manager of the Oakmark Select Fund since 1996 and the Oakmark Fund since 2000. He’s seen it all, folks.

So, Schwab is the new kid on the block that’s got Nygren all giddy. He’s saying he’s especially bullish on Schwab because they’re the cheapest wealth management service provider out there. Ah, the good ol’ mantra – why pay more when you can pay less? Schwab’s business model has been to give away more to the customer for free and earn the balance by the cash sitting in their accounts. This bloke’s calling it an “exceptionally well managed company.”

What’s more, Nygren ain’t spending his days sipping tea and flipping through Instagram. He’s been keeping a close eye on the Schwab insiders, and according to him, they’ve been buying the stock in recent weeks. This is the kind of stuff that gives you the warm fuzzy feelings inside, aren’t we right?

In conclusion, if you’re not on the Schwab train already, you might wanna hop on board. Bill Nygren, someone who’s been at this game for decades, seems to think this is a good idea. But hey, what do we know? We’re just here to give you the news with a side of humor.

Serious News: cnbc