Value Traps: Look Past Surface To Identify True Value

In finding value in today’s market environment, three professional investors shared a common theme: don’t let where the company is domiciled taint your view. This was the view of a morning keynote speech at the Morningstar investment Conference held today in Chicago- the panelists were Harry Hartford, Causeway Capital Management, David Herro, Oakmark Funds, and Rob Lovelace, The Capital Group.

In focusing on the developing world, “valuations not as compelling as they were three or four years ago,” said panel participant Harry Hartford, Causeway Capital Management. He noted that many times a country or geographic region can be...