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Dreman's Hoover: Fundamentals Trump Hypotheticals on BP

Dreman Value Management's Cliff Hoover says he thinks BP stock is going to go back to the $70-plus level and will reinstate a dividend early next year.

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Greg Carlson: Hi, I'm Greg Carlson. I'm a fund analyst with Morningstar.

I'm joined today by Cliff Hoover. He is a former manager of several Allianz NFJ value funds. He's been with David Dreman's firm for four years, and he's recently become the sole chief investment officer of that firm, in a sense stepping into David Dreman's shoes. David is a longtime value investor. We should mention that David is still at the firm and playing a very significant role, but I think it would be interesting today to talk to Cliff about how that transition is going and talk about a couple of other issues as well.

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