Morningstar 2012 International-Stock Fund Manager of the Year Rajiv Jain expects continued earnings growth for the less popular growth stories of tobacco and Indian consumer stocks.
But even foreign-domiciled stocks can offer U.S. exposure, says Morningstar's Heather Brilliant.
Although he notes the potential problems of investing in financial-services names, Oakmark's Clyde McGregor sees some mispricing in European banks.
The weak European economy is allowing firms to unlock extra value via restructurings and spin-offs, but it's better to invest while firms are still cheap conglomerates, says Evermore's David Marcus.
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