At a time when U.S. stocks are beating the rest of the world, Sarah Ketterer mostly invests overseas. And at a time when index funds and exchange-traded funds (ETFs) are ascendant, she invests the old-fashioned way: She scouts for well-run companies and buys them when they look cheap. So far that approach is paying off for the 54-year-old chief executive officer and fund manager at Causeway Capital Management. Ketterer's largest fund, the $6.3-billion Causeway International Value Fund (CIVIX), beat its peers by an annualized 3 percent over the last three and five years, according to Morningstar.
Ketterer spoke with Bloomberg.com about what the kinds of stocks she’s buying, what she’s avoiding and the value that an active stock manager brings when the world's stock markets are looking "pricey." For the last couple years, investors have flocked to consumer staples, utilities and health care globally. They’ve wanted [those] consistent earnings and dividend yields. It’s going to be hard for those stocks to meet expectations.
Source: Bloomberg
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