Morris favors financial stocks, which have taken a hammering after a recent series of scandals including Libor -fixing, and concerns about their exposure to peripheral euro zone countries.
Morris's employer HSBC is seen by many as one of the better performers during the credit crisis. It avoided government bailouts and maintained its focus on emerging markets. However, it had its fingers burnt by a money-laundering scandal involving Mexican drug gangs earlier this year.
He argued that the Coppock indicator — which is used to measure when the "period of mourning" following crises ends — suggests that bank stocks are kicking off a long-term upturn at the moment.
"We're looking for sustainable places to put money. The quality banks will do well first, " Morris said. "No doubt they'll be the villains for some time, but fundamentally they're five years on from the problem and prices are very low. The volatility will decrease over time to reflect that they're simpler businesses."
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The funds Charlie Morris manages own European equities.