Herro: This Isn't 2008; Values Abound In Quality Stocks

Morningstar Fund Manager of the Decade David Herro says the market is littered with cheap quality stocks right now, as investors erroneously compare the current financial situation to the crisis that hit in 2008. “I think the biggest worry … is people don’t want to get caught like they were in 2008 and perhaps ’09,” he tells Morningstar. “So they are extrapolating what was the situation in 2008 and 2009, and they are selling first and they are asking questions later. Despite the fact, what we are seeing in the real economy, despite all these fears, despite all this volatility and market instability in the financial markets, in the real economy we’re not yet seeing what we saw in ’08 or ’09–nothing like it.”