Swiss stocks advanced, after the benchmark index posted its biggest weekly loss since early October, as Iran’s accord with world powers to limit its nuclear program reduced political risks for investors.
Matthew Doom texts a lot at work and is a whiz on the 3D printer. Unlike most tech workers, his office is a wooden workbench next to a milling machine where he cuts metal for medical devices and other parts.
Come September, James Moffett, manager of the $9.7 billion Scout International Fund (UMBWX), will be one of only 20 foreign-stock-fund managers to have run the same fund for 20 years. Since its 1993 inception, his fund has delivered an 8.7 percent average annualized return, almost double that of its MSCI EAFE foreign-stock benchmark. It's also outperformed peers over the past 15 years with an annualized return of 7 percent versus 5.4 percent for its Morningstar category of foreign large growth funds. Scout International can lag in strong cyclical bull markets but tends to outperform in downturns because of its focus on high-quality companies. Lewis Braham spoke with Moffett, 72, about where the manager sees international opportunities today.
You don’t hear much about the battle of the Machine Tool Reserve anymore, and that’s a shame. Fought inside the Beltway in the mid-1950s, it was a defining tussle over the nature of postwar national defense.