Fund Manager Of The Year Talks Strategy, Current Market

Morningstar International Stock Fund Manager of the Year Daniel O’Keefe recently appeared on WealthTrack with Consuelo Mack to discuss how his Artisan International Value and Artisan Global Value funds have generated exceptional returns over the long term. O’Keefe says that he looks for four main qualities in a stock: cheapness relative to its intrinsic value; a competitive advantage; a strong balance sheet; and management that acts in the interest of shareholders. He talks about how a low valuation metric, like a low P/E ratio, doesn’t serve as a true gauge of value if other factors are not also considered. While his approach has many defensive characteristics, O’Keefe also discusses how he is willing to shift into areas of the market that may seem more aggressive when valuations dictate, as he did coming out of the Great Recession. And he talks about why he avoided financial stocks well ahead of the financial crisis, and why he is now finding value in several financials, particularly in the UK.