Five-star portfolio manager William Fries says you can make money in this global slowdown -- with the right "approach to value."
Fries is co-portfolio manager of the Thornburg International Value Fund , which is down 14 percent year-to-date -- but up nearly 140 percent over the last five years.
"There are a lot of slowdowns on the periphery of Europe," concedes Fries.
But he told CNBC that there are good Continental buys to be found, by seeking "consistent earners" that fit Thornburg's "approach to value": diversification across three types of stocks.
- SAP in Germany
- Telefonica in Spain
- and back in North America, Canadian Natural Resources