Herro on 2014, and What Japan Needs To Do Now

Top fund manager David Herro says that, while stocks jumped far more than most expected they would in 2013, they still should have room to run going forward. “Despite the strong past performance of global equities, I believe there is still value in global equity markets,” Herro writes in his fourth-quarter letter to Oakmark shareholders. “Certainly, stocks are not selling at the incredible bargains they were in early 2009 or even early 2012, but with… Read More

El-Erian On How Japan Impacts The Bond Market

PIMCO’s Mohamed El-Erian says what’s happening in Japan is key to what will happen with the bond market in the U.S. El-Erian tells CNBC that the latest stage of the stock market rally seems to have been driven by Japan’s big stimulus efforts, and by the notion in general that central banks around the globe are “all in” in terms of bolstering markets. El-Erian says he thinks that over the next few months we’ll find… Read More

Top Managers Look To Unloved Japanese Stocks

While Japanese stocks have for years has yielded little for investors, some top value investors are keen on the country. In a column for SmartMoney, Brett Arends writes that Japan’s “stock market is cheap. Possibly very cheap — at a time when nearly everything else looks pricey. The Nikkei 225, Japan’s major stock market index, trades at just 10 times forecast earnings. The dividend yield is up to 2.3 percent — a hefty amount in… Read More

Buffett On The Prowl in Japan

Warren Buffett is looking for investment opportunities in Japan, saying that neither the huge earthquake that devastated the country earlier this year nor the recent scandal surrounding Olympus Corp. have soured him on Japanese firms. “There are lots of opportunities in Japan,” Buffett said during a visit to the country to visit a tool-making company that is majority-owned by one of the subsidiaries of his Berkshire Hathaway, Bloomberg reports. “We’re looking for companies that have… Read More

Nygren, Herro Get Contrarian

While the rest of the investment world seems to be shunning Japanese stocks and large-cap stocks, two top fund managers — Oakmark’s David Herro and Bill Nygren — say that’s where they are finding value. “We’re fully confident that our Japanese stocks will become a positive at some point for the fund — who knows when,” Herro told the Associated Press in reference to a fund he and Nygren co-manage. “Japan is the cheapest among… Read More

Fisher Boosts Japan Exposure, Calls Out Media

Ken Fisher says he’s increased his exposure to Japan in the wake of the recent crisis — and he says the media is “fanning the hysteria” surrounding the nuclear situation there. Fisher tells Advisor One that he has “increased weight in Japan and picked up some other things, mostly technology, on the presumption that things tied to [Japan] will” improve faster than most people anticipate. “We think this is largely a tragedy that is being… Read More