Scouring for Money in a Difficult Market
The CFA Society of Los Angeles hosted its annual forecast dinner, in which a panel of three investment luminaries offer their prognostications for the year ahead. Your humble analyst attended, along with 300 other Angeleno money managers, in order to receive the wisdom of some talented panelists. They included Paul Hechmer, who was a founder of the NWQ international subsidiary Tradewinds Global Investors; Laurie Goodman, managing director at Amherst Securities, which is the ax in analyzing the mortgage and housing markets; and David Rosenberg, the chief strategist at Canadian money manager Gluskin Sheff.
Hechmer opined on the international outlook, which is his specialty. He was not as bearish on Europe as one might expect, noting that he believes the European Central Bank will print like crazy in order to make the defaults orderly. He expects five countries to leave the monetary union, but not in 2012. He sees a "hard landing" in China, which he defines as 6% growth. He says it will tank their market, but create buying opportunities in strong companies -- for instance, in the energy sector....363 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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