David Herro: 'We Are Not at All Afraid to Vary From an Index'

The Long View

Morningstar

Finance, Dan Lefkovitz, Amy Arnott, Entrepreneurship, Investing Leaders, Jeff Ptak, Investors, Christine Benz, Influential Investors, Careers, Long-term Investing, Financial Services, Business, Investing, Morningstar

4.5 • 775 Ratings

🗓️ 13 July 2021

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

The portfolio manager of Oakmark's International funds talks about bargain-hunting during the pandemic, ESG and risk management, and why he's not complacent about inflation.

Transcript

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0:00.0	At Jackson, we've created a digital retirement planning experience with you and mine.
0:05.5	Visit jackson.com to explore our easy-to-understand resources and user-friendly tools
0:10.1	that are designed to enable financial professionals and clients to plan a path to financial freedom.
0:15.5	Jackson is short for Jackson Financial Incorporated, Jackson National Life Insurance Company, Lansing, Michigan,
0:20.5	and Jackson National Life Insurance Company of New York, purchase New York.
0:26.5	Please stay tuned for important disclosure information at the conclusion of this episode.
0:32.4	Hi, and welcome to the Longview. I'm Jeff Patak chief ratings officer at Morningstar Research Services.
0:38.1	And I'm Christine Ben's director Director of Personal Finance for Morningstar.
0:41.8	Our guest this week is David Hero. David is Chief Investment Officer of International
0:46.0	Equities at Harris Associates and serves as Deputy Chairman and Portfolio Manager for a number
0:51.0	of Oakmark Funds, including Oakmark International. Prior to joining Harris Associates, David managed international portfolios for the number of Oakmark funds, including Oakmark International.
0:58.9	Prior to joining Harris Associates, David managed international portfolios for the State of Wisconsin Investment Board and the principal financial group. Morningstar's analyst named David
1:03.8	International Stock Manager of the Decade for 2000 to 2009, an international stock manager of the
1:10.1	year for 2016.
1:11.9	He holds a bachelor's degree from the University of Wisconsin-Platville and a master's from the
1:16.7	University of Wisconsin, Milwaukee.
1:19.1	In the spirit of full disclosure, David is a portfolio manager to the Morningstar Funds
1:23.6	Trust International Equity Fund.
1:26.0	David, welcome to the Longview.
1:29.3	Thank you for having me, inviting me today. David, welcome to the Longview. Thank you for having me,
1:34.2	inviting me today. Well, it's our pleasure. So I wanted to start up big picture, and it seems like a logical place to start, is the pandemic? As a global portfolio manager, the pandemic must
1:39.1	have presented a challenge, given how accustomed you and her colleagues are to traveling the world
	...

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