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Herro: We're Still Finding Value

The Oakmark manager says stocks are still cheap today, especially compared with other asset classes.

Herro: We're Still Finding Value
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John Coumarianos: Investors have been on, really, a wild ride for 2008, with a dramatic decline that year and then a great rebound in 2009. How do your portfolios stand now in relation to the price of the stocks in your portfolios relative to their underlying value? Is that spread still fairly significant?

David Herro: Yeah, there's still a very healthy spread. In fact, we actually measure this on, literally, a daily basis. We can see, basically, the cents on the dollar, what the portfolios are trading at.

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John Coumarianos does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.