David Herro (Trades, Portfolio), chief investment officer of international equity at Harris Associates, told CNBC Tuesday that he still sees "good investable opportunity" in European stocks.
The investor said that "scare stories" had caused people to shy away from Europe but that supposedly negative factors like Brexit and slower growth had not significantly harmed many companies in reality. While markets have gone up in the U.S., he believed that value could still be found domestically as well.
"This is the beauty of a big broad market like the U.S.," Herro said. "And it's the beauty in having the world to choose from. You can always find little pockets of value."
Herro's largest positions in the Oakmark International Fund at the end of the fourth quarter were BNP Paribas (XPAR:BNP, Financial), Daimler AG (XTER:DAI, Financial) and Lloyds Banking Group PLC (LSE:LLOY, Financial).
See his portfolio here.
