Emerging Stocks Have Gotten Expensive, Herro Says: Tom Keene

Emerging-market stocks are expensive, reducing their allure even as developing economies are poised to keep fueling global economic growth, said David Herro, chief investment officer of international equities at Harris Associates.

“Money has flooded into these areas, thereby making stocks in emerging markets relatively less attractive than those of developed markets,” said Herro today on Bloomberg Television’s “Surveillance Midday” with Tom Keene and Ken Prewitt. “The growth story isn’t over, but the stock story has taken a pause because of valuation.”