David Herro (Trades, Portfolio), portfolio manager for the Oakmark International Fund, appeared on Bloomberg yesterday and confirmed that as the markets continue from its worst start to a year, it is the perfect time for patient investors to profit from the panic.
One of the main concerns currently is the economic weakness in China. The fund holds a stake in Chinese internet search company Baidu (BIDU, Financial), but Herro said he plans to tread carefully in the country due to problems with transparency and corporate governance. Herro made clear, however, that global concerns with China may be overblown.
While China clearly has macroeconomic and political issues it must overcome, "it doesn't mean the whole world is going to get sucked down the drain because of some uncertainty in China," Herro said.
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