2013投资热点：华尔街看好中国

    还记得投资界那条永恒的真理吗？坏消息是投资者最好的朋友。当前美国经济艰难前行，中国经济错综复杂，欧洲经济持续萎缩。但智慧的投资者们说：“出手吧！”在他们看来，大多数投资者已经被如今的媒体报道弄得没了信心，纷纷逃离本应持有的资产（比如股票和房地产），把钱都堆到了本应回避的资产之中（比如低收益率债券)。这么多投资者被误导为少数精明的人创造了机会，能以低价购入有吸引力的投资产品。至少理论上是这样。有效的理论需要有专家的洞察力，而我们大多数人既没有时间，也缺乏专业素养，无法信心满满地找出这些蒙尘的明珠。

    因此，我们特地请来五位市场观察家分享他们的智慧。史蒂芬·奥斯是共同基金公司Federated Investors的股票首席投资官，拥有30多年的华尔街从业经验。贾斯汀·莱维伦茨是奥本海默基金（Oppenheimer Funds）高级副总裁，管理的奥本海默发展中市场基金（Oppenheimer Developing Markets Fund）极为成功。萨维他·苏博拉玛尼亚是美银美林（Bank of America Merrill Lynch）美国股票策略主管。大卫·赫罗是Harris Associates国际股票首席投资官，管理的Oakmark国际基金表现一流。丹·福斯已在华尔街工作50年，如今是Loomis Sayles & Co.公司的副董事长，也是Loomis Sayles债券基金的基金经理。

    下面就是华尔街专家们与《财富》（Fortune）杂志资深专栏作家杰夫·科尔文的讨论节选：

    It's time to remember one of investing's eternal truths: Trouble can be an investor's best friend. America's economy is limping, China's is complicated, Europe's is shrinking -- and the wisest investors say, "Bring it on." They understand that most investors get discouraged by today's headlines and flee assets they should embrace, like equities and real estate, while piling into assets they should avoid, like low-yielding bonds. The misguided herd creates opportunity for the savvy few, who can buy alluring investments at bargain prices. At least that's the theory. Making it work requires expert insight, and most of us lack the time and training to identify overlooked gems with confidence.

    So we asked five expert market observers to share their wisdom. Stephen Auth is the chief investment officer in charge of equities at Federated Investors and has more than three decades of experience on Wall Street. Justin Leverenz is a senior vice president at Oppenheimer Funds and runs the highly successful Oppenheimer Developing Markets Fund. Savita Subramanian is the head of U.S. equity strategy for Bank of America Merrill Lynch. David Herro is the chief investment officer of international equities at Harris Associates and the manager of the top-performing Oakmark International Fund (OAKIX). Dan Fuss, who has worked on Wall Street for five decades, is the vice chairman of Loomis Sayles & Co. and the manager of the Loomis Sayles Bond Fund (LSBDX).

    Here are edited excerpts of their discussion with Fortune's Geoff Colvin: