Bill Nygren of Oakmark Funds says he likes big banks in the financial space, and the top value investor explains why he likes Charles Schwab in particular. “I think for a long time, the bigger the financial industry, the better,” Nygren said on CNBC’s “Squawk on the Street” on Wednesday, offering more services to their customers than smaller banks. Concerns about the banking system deepened in March following the collapse of Silicon Valley Bank and Signature Bank and capital problems at Credit Suisse and First Republic. Nygren owns Wells Fargo, Capital One, Bank of America and Schwab through funds he manages. Financial management, he believes the big banks are less affected by these balance sheet problems. “While some of their long-term investments have put SVB in trouble, we think they have very sophisticated deposits that may be held in these institutions for a long time.” time,” Nygren said. “That makes owning long-term assets appropriate. ” Nygren is one of the top performing value managers on Wall Street with decades of experience. He has been a manager of the Oakmark Select Fund since 1996 and the Oakmark Fund since 2000.” Schwab’s Business The model has been to provide clients with more and more services for free, and they make money off of the cash traded in those accounts,” Nygren said. “It’s a company that is exceptionally well managed. The portfolio manager also noted that Charles Schwab insiders have been active buyers of the stock over the past few weeks.