After a period of relative calm, the Italian elections and fight over the sequester underscore some of the structural problems facing the global economy; investors should be prepared for volatility, says Morningstar's Jeremy Glaser.
Although he notes the potential problems of investing in financial-services names, Oakmark's Clyde McGregor sees some mispricing in European banks.
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.
Several European banks have proved their mettle amid the continent's financial turmoil and are well-positioned for long-run growth, says Janus Overseas manager Brent Lynn.
UBS AG posted a second straight quarterly loss after booking a fine for trying to rig global interest rates and costs tied to job cuts.
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