David Herro on What Has Changed in International Markets Since the 1980s

Morningstar’s Katie Reichart recently interviewed David Herro, Manager of Oakmark International, to discuss how international investing has changed, or not, since the 1980s. Here are some highlights: Herro said that one of the biggest changes since he started his career in 1986 is “the pace at which information flows around the world.” He describes it as having both positive and negative repercussions: “I think all too often people may react too rapidly without thinking. They… Read More

Time to Bottom Feed Across the Pond

The U.S. stock market is expensive and bond yields aren’t far from record lows. European and emerging market stocks, on the other hand, have approached stomach-turning status, says Jason Zweig of the Wall Street Journal. The European market has dropped by 12% while emerging markets have plummeted by 21.8%. Stabilized oil prices and a possible interest rate hike by the Fed has lifted investors’ outlook on these markets by a marginal 2% to 3%, but… Read More

The “Art of Successful Investing” with Zulauf, Black, Herro & Priest (Part I)

Last month, Barron’s published stock picks of eight leading investors who participated in its AOSI conference.  Below are several of the longer-term trends identified by these industry leaders. Felix Zulauf, president of the hedge fund Zulauf Asset Management, sees a bear market. “We are in a recovery rally in the early stages of a cyclical bear market,” he says. After possible upward bumps for the remainder of 2015, he continues, “I see a bear market… Read More

Taking "Short-term Lumps" for Long-Term Value in Emerging Markets

The manager of the Oakmark International Fund, David Herro, believes it is a good time to invest in emerging markets. The fund had roughly one-quarter of its portfolio in emerging markets in the late 1990s and “benefited greatly” from that decision over the next decade, Herro says. Then, investors became interested in emerging market stocks and “by the end of the last decade, prices got stretched,” so the fund reduced its emerging market stocks to… Read More

Taking “Short-term Lumps” for Long-Term Value in Emerging Markets

The manager of the Oakmark International Fund, David Herro, believes it is a good time to invest in emerging markets. The fund had roughly one-quarter of its portfolio in emerging markets in the late 1990s and “benefited greatly” from that decision over the next decade, Herro says. Then, investors became interested in emerging market stocks and “by the end of the last decade, prices got stretched,” so the fund reduced its emerging market stocks to… Read More

Herro's Take On Greece

Recently, David Herro of Harris Associates spoke to CNBC about his thoughts on the Greece instability, and how that affects European investments — and the top fund manager’s outlook may well surprise you.

Herro’s Take On Greece

Recently, David Herro of Harris Associates spoke to CNBC about his thoughts on the Greece instability, and how that affects European investments — and the top fund manager’s outlook may well surprise you.

Herro: There's Value In Europe

Top fund manager David Herro is finding a lot of value in the unloved European region, as well as in Japan. In a recent letter to his Oakmark International shareholders, Herro said he had about 80% of the portfolio in Europe and 11% in Japan. “How we are positioned is really a function of where we are finding individual-company value,” Herro tells Morningstar. “I think it’s really important to realize that a lot of these European… Read More