Herro: What's Changed, What Hasn't, Since the 1980s

June 19, 2018

International CIO David Herro was a featured speaker for the panel discussion “Global Equity Investing in a World of Blurring Borders” at the 2018 Morningstar Investment Conference. David was asked to reflect on what has changed and what has remained the same with international investing over the course of his career.

Watch the video here.

 

 

 

The Oakmark International Fund’s portfolio tends to be invested in a relatively small number of stocks. As a result, the appreciation or depreciation of any one security held by the Fund will have a greater impact on the Fund’s net asset value than it would if the Fund invested in a larger number of securities. Although that strategy has the potential to generate attractive returns over time, it also increases the Fund’s volatility.

Investing in foreign securities presents risks that in some ways may be greater than U.S. investments. Those risks include: currency fluctuation; different regulation, accounting standards, trading practices and levels of available information; generally higher transaction costs; and political risks.

The discussion of the Funds’ investments and investment strategy (including current investment themes, the portfolio managers' research and investment process, and portfolio characteristics) represents the Funds’ investments and the views of the portfolio managers and Harris Associates L.P., the Funds' investment adviser, as of the date written and are subject to change without notice.

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