US stocks were trading mixed Wednesday as Ireland discusses a bailout with the EUand Britain pledged support to help the struggling country. What should equity investors do?
James Moffett, portfolio manager at the Scout International Fund, shared his insights.
The fund boasts strong ratings from Morningstar across three time periods: 5 stars for the three-year, 4 stars for the five-year and 5 stars for the ten-year time periods.
“We’re still in the camp that European equities are good,” Moffett told CNBC. “We’re investors, not traders—we look at this as a normal correction in the uptrend that we’ve since we had summertime and we’re not terribly concerned about it.”
Within Ireland, Moffett specifically likes Ryanair.
“There are other good companies there, but the common denominator is that the good ones do business outside Ireland,” he explained. “Ryanair is the largest discount airline in Europe and we think it’s a great operation. And as these prices get beaten down, we think this will be a buying opportunity or will be shortly.”
Scorecard—What He Said:
- Moffett's Previous Appearance on CNBC (Sept. 27, 2010)
Market Views—Across the Board:
CNBC Data Pages:
Wednesday's Dow Laggards (as of this writing):
No immediate information was available for Moffett or his firm.
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