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Oakmark Select can rebound from its slump, but stumbles with energy stocks and other errors of omission drop its Morningstar Analyst Rating to Silver from Gold.
The strategy can work for patient investors. Longtime manager Bill Nygren, joined by comanagers Tony Coniaris and Win Murray in 2013, relies on deep due diligence to find undervalued firms with shareholder-oriented management teams, an approach that's worked long term here and at the more diversified Oakmark (OAKMX).
Katie Rushkewicz Reichart, CFA has a position in the following securities mentioned above: OAKLX. Find out about Morningstar's editorial policies.