Herro: "Exceptional Time" to Focus on High Quality

David Herro, one of Morningstar’s fund managers of the decade, says fear in the market is driving investors to safety — and causing them to miss out on excellent bargains that now exist in stocks. Herro tells Mornignstar that he thinks this is “an exceptional time to be investing in good-quality businesses.” He defines those as companies that earn good returns, have good management, have sound capital allocation, and have good free cash flow streams. He seeks to get their shares at low prices — and says “it’s very, very easy today to find these types of companies”.

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