Herro: Quality Has Been Trampled Upon
The Oakmark manager says the fund is able to pick up quality names at 60% to 70% discounts amid a market that's selling first and asking questions later.
Jason Stipp: So, I wanted to talk to you about volatility, because it does seem, as you're saying, that we've seen a lot of the markets moving in lockstep and a lot of indiscriminate selling in some cases.
... I know it's kind of hard to get a handle on what's causing it, but it seems like especially in August we saw so many days of triple-digit up and down on the Dow Jones, for example.
Jason Stipp does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.