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Does Longleaf Partners' Closing Signal a Market Top?

Shareholders should be encouraged by the fund's closure, but don't take it as an indicator of an overheated market, says Russ Kinnel.

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Karen Wallace: From Morningstar, I'm Karen Wallace. Large blend Longleaf Partners fund announced that it was going to close because the managers were having trouble finding investment opportunities that met their criteria. Here to discuss what that might mean for valuations in general is Russ Kinnel. He's editor of Morningstar FundInvestor.

Russ, thanks so much for being here.

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