Skip to Content
US Videos

Wadhwaney: Opportunity to Buy and Buy More in Europe

Third Avenue International Value manager Amit Wadhwaney says the fund has been expanding its ownership of a number of European financial companies.

Mentioned: ,

Hughes: I mentioned the eclectic portfolio, and of course, there is the small-cap stocks that are included in the portfolio, but also it's one of the few international funds that has as small a stake in Europe as it does right now at under 30%, I think. Europe, of course, is top of mind for a lot of international investors. Even though it's not a big part of your portfolio, can you comment on what your thoughts are on what's going on with Greece and Europe and how you've responded?

Wadhwaney: Here is the thing. There is no predetermined geographic allocation in the portfolio. The allocation is really a by-product of a security selection. So if we own a German company, it will wind up as per the Germany allocation, if you will. We do not think in terms of we'll have X percent in Germany, Y percent in Italy and so forth. We will be guided by valuation, we will be guided by safety and the general attractiveness as a business.

Bridget B. Hughes does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.