Select Japanese and European equities hold the greatest potential right now, Morningstar's Fund Manager of the Decade said Wednesday.
On CNBC's "Halftime Report," Harris Associates CIO David Herro said that it was important to focus on undervalued multinational companies in lackluster economies.
"These European businesses, most or many of what we own, really, they're domiciled in Europe, but they're global companies. They have business all over the world, and they're actually doing quite well," he said. "You see companies like Allianz and Daimler, even BMW and Diageo, these are big global businesses. And because they're based in Europe and people are kind of down on Europe, the share prices have been weak and value's been strong.