- Job Market Politics to Keep Interest Rates Low
- AIG, Symbol of Crisis, Watches Its Stock Zoom Back
- Disney Profit, Sales Top Street Forecasts; Shares Jump
- Bill Gates Praises Apple's Jobs for 'Saving the Company'
- Cities With the Most Home Price Reductions
- Cramer: The Real Reason Stocks Fell Thursday
- Is Euphoric Market Ignoring Warning Signs?
- Video Game Sales Plunge, but Have They Hit Bottom?
- Despite Rhetoric, Obama Has Few Options to Boost Jobs
- Microsoft's Bill Gates Praises Apple's Steve Jobs For 'Saving the Company'
- Gold Is a Bad Inflation Hedge—Like Oil: Stock Picker
- Intel's Andy Bryant Offers An Explanation
- US 'Actively Working' on Weaker Dollar: Fund Manager
- Options Boil on Biotech Buyout Rumors
- Warren Buffett's $100,000 Offer and $500,000 Advice for Columbia Business School Students
- Activision Blizzard's "Modern Warfare 2" Sales Break Records
- 5-Star Manager's 5 Stocks for Changing Markets
- What's The Forecast from Retailers? Proceed With Caution
MOST SHARED
- Warren Buffett and Bill Gates Share Their 'Optimism' With Eager Columbia Business Students
- Pharma & Social Media
- Cities With the Most Home Price Reductions
- China Fourth Quarter Growth Could Hit 10%: Official
- Warren Buffett's $100,000 Offer and $500,000 Advice for Columbia Business School Students
- Disney Profit, Sales Top Street Forecasts; Shares Jump
- Microsoft's Bill Gates Praises Apple's Steve Jobs For 'Saving the Company'
- Housing Recovery 'Still In Uncharted Territory': HUD Secretary
- Despite Rhetoric, Obama Has Limited Options To Boost Jobs
- Is Euphoric Market Ignoring Warning Signs?
Text Size 
 |
A red-ink market day may look gray to the untrained eye, but when Ned Gray looks at it, he sees opportunities.
Gray's four-star Delaware Global Value Fund is up an average of 20.9 percent per year over the last five years.
"In this kind of environment, with a weakening global economy, what we're looking for is not so much just devaluation, because that obviously hasn't been much support in the past year," he told CNBC.
"We're looking for companies with good solid fundamentals to propel the earnings forward, and we expect the multiples to follow."
Gray sees Royal Philips Electronics [PHG
Loading...
()
] as a stock that's very badly misunderstood.
"The underlying strength resides in a few core businesses," he said. "The medical equipment business, the lighting equipment business, are both very solid leading producers within their industries globally, and I think it's too often been associated with the semiconductor business, which they have been gradually been working their way out of."
Another favorite is Dow component Caterpillar [CAT
Loading...
()
], which took a beating last year on weak sales and inventory declines in its dealer network.
"A lot of the downside from the U.S. construction cycle is already priced into the stock," he said. "Meanwhile, the non-U.S. side is going gangbusters. It continues to do exceptionally well. Caterpillar's global presence, its diversified markets, its competitive position globally are not going to be diminished."
Gray owns Philips Electronics and Caterpillar through his fund.
Print
Email
- Warren Buffett and Bill Gates spoke to Columbia students, and Buffett made the students a startling offer.
- They may have wrecked their companies or saved our economy. Tell us what you think.
- Big pharma embraces social media, but how much should a tightly regulated sector say on Facebook or Twitter?
- A European dating site finds lovelorn singles from one country to be consistently uglier. Which is it?
- Contributor David Pogue looks at two of the latest efforts to perfect the digital pocket camera.
- PepsiCo is ramping up its onsite health facilities for workers.
Data is a real-time snapshot *Data is delayed at least 15 minutes