CHICAGO - Investors looking for "the best investments — anywhere" should examine emerging markets, selected sectors in Europe and the pharmaceutical industry, according to a panel of top asset managers at Morningstar's annual investment conference.

Emerging markets are an attractive "long-term secular growth story," according to Charles Pohl, chief investment officer of Dodge & Cox. Amit Wadhwaney, portfolio manager and co-founding partner at Moerus Capital Management agreed, citing the high number of "severely undervalued companies" in various emerging market countries.

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