February/March 2010 Features Spotlight: Global Investing Morningstar Conversation 43 Investing’s World View A high-quality portfolio is a global portfolio: The best opportunities are often found abroad. Asset-Allocation Heavyweights Square Off The discussion is cordial and ends with a friendly wager, but John Hussman and Gus Sauter find little common ground. Undiscovered Managers World Class There’s no need to sacrifice quality when investing abroad. Great companies abound across the globe. 34 35 Map of International Moats The Global View from Abroad Managers from outside the United States give their perspective on the world’s opportunities and risks. 50 A World of Flexibility In running his one-of-a-kind strategy, Dennis Stattman encourages his team members to follow their own paths. Crafting a Global Investing Strategy There’s more to the world than equities. Fixed income and real estate are important components of a global portfolio. Stay-at-Home Globetrotter Jim Moffett logs few miles to invest in foreign companies for his topnotch international fund.