David Samra, Top International Stock Picker, Sees Buying Opportunity

Bloomberg reports that David Samra, the Artisan Partners fund manager who won Morningstar’s international stock manager rankings for picks during the 2008 crisis and again in 2013, sees opportunity in the current market turmoil. “We welcome these types of markets,” Samra said. He maintained that market has become “very greedy” in the past few years, which he said created a selling opportunity. Right now, he says, is time to “aggressively buy.” Samra did not specify exactly what he is buying, but offered a few general thoughts. He likes wealth management over investment banking, is “not rushing to invest in China,” and suggests it is “probably time to get bullish” on oil. As for causes, Samra suggests the central banks have been too aggressive since the financial crisis: “You always run this balance between creating social unrest and creating bubbles, and we’ve erred on the side of creating bubbles,” producing “distortion after distortion. And we keep applying more aggressively the same remedies and causing more distortion.” On investing in such times, he indicated that the turmoil is an opportunity to buy stocks at high discounts, but noted: “you need a personality that can take the emotion and noise out of the equation.”