Big European stocks a good bet, says investor

European stocks offer some of the world’s best investment opportunities even after outperforming other markets this year, in part because Greece’s festering crisis scared away buyers, said David Herro, one of the biggest US owners of shares in the region’s companies.

Greece’s struggle to obtain a new bailout, and its potential exit from the euro, highlight the structural flaws in the EU, said Mr Herro, chief investment officer for international stocks at Harris Associates in Chicago.

As a result, he’s loading up his $30bn (€26.8bn) Oakmark International Fund with shares of companies such as BMW and BNP Paribas at attractive prices.