The location of a company's headquarters doesn't tell the whole story.
Although not as cheap as it was, the stock market's valuation today isn't much different than long-term historical averages and is more attractive than competing investments like bonds and cash, says Oakmark's Bill Nygren.
European multinationals are still some of the cheapest companies in the global universe today, says the Oakmark International manager.
Topnotch Medalist funds with concentrated portfolios and low turnover.
With Bill Nygren and David Herro at the helm, Silver-rated Oakmark Global Select has bested more than 90% of its peers on both a total return and risk-adjusted basis.
The fund's plain-vanilla focus on company fundamentals allows it to uncover value in any kind of stock and has contributed to its long-term outperformance, says Morningstar's Shannon Zimmerman.
The Oakmark manager notes how a long-term view, with strict buying and selling discipline and preparedness for short-term weakness, has allowed his international fund to beat its peers.
Unless a fragile market triggers outflows, the Oakmark International fund is likely to remain closed to retain its flexibility and concentrated portfolio, says manager David Herro.
The following is an excerpt from Morningstar's Premium Analyst Report for Oakmark International OAKIX, a foreign large-blend fund that receives a Gold Morningstar Analyst Rating. Morningstar.com Premium Members can click here to see the full Analyst Report. Not a Premium Member? Take a free ...