Herro Buying Amid "Fear and Rumor"

Top fund manager David Herro says that fear and rumors have been driving stock prices — not fundamentals — and that has him buying. “We think there is great value in global equities today, and yes we have been buyers of good quality global stocks that have gotten clobbered by [non]-fundamental reasons,” Herro tells Bloomberg. ” He talks about some European bank stocks that he thinks have been beaten down unfairly by fear, and some U.S. bank stocks that he thinks are “way oversold”.