We'd be lying if we said Rudolph-Riad Younes, of Artio International Equity II (JETAX), was a bull on the global economy. He's not. "This recession will last longer than people expect," says Younes, who manages the fund with Richard Pell.
Younes thinks that profit margins worldwide were inflated, pumped up by the easy-money policy and credit bubble emanating from the U.S. So he's mostly on defense, seeking companies with stable earnings and a predictable dividend, such as Nestlé. He's also warming to commodities, including oil, which he now calculates as undervalued and a useful hedge against future inflation.
Read about all of the Kiplinger 25 funds.
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