35 Burst results for "chief investment officer"
Nasdaq sets record high, S&P positive for 2020 as investors rally for recovery
"June third Ryan, Dietrick L., L. Financial tweeted that the return of the S&P five hundred for the trading day since the market bottomed the Mark Twenty March twenty third. Thirty nine point six percent, the best fifty day rally of the S&P five hundred since it was launched in nineteen fifty seven series. Yes. Didn't it feel like you're in the best rally ever I mean? I just feel. I just can't help but feel that. Yeah, this is just the best time to. Today just fantastic, yeah! Anyway, so the five hundred is now within five percent of its all time high on the Nasdaq on Friday and again today and we are taping by the way on Monday. June eighth! The Nasdaq reached another all time high, so the Nasdaq is at an all time high at this point. According to the bespoke in investment group. There's only one stock in the entire s and P five hundred. That's down since March. Twenty Third Oh hell. And it's down less than two percent. It's cody. The beauty care products. And they're only eight stocks that aren't up more than ten percents. It's mark, Twain, third, and this includes actually some big names Costco Walmart. Kroger sort of the consumer staples got left in the dust during the rally, so looking at the sectors since March twenty third the best sector energy up a hundred seven percent. Followed by consumer discretionary seventy percent in financials, fifty nine percent that said they went up the most, because they went down the most in the first part of it, and for the year they're still down, so energy stocks are still down almost thirty percent of the year and consumer, discretionary and financials still down eleven percent for the year. When you look at the best sectors for the year, as you might guess top performer technology for point, seven percent and healthcare up six percent for the year. Now looking at the biggest companies. In the stock market, we now have three companies worth more than a trillion dollars. Apple is on top one point three, nine, seven trillion. Microsoft. Just barely behind at least as of Friday's close one point three, eight, seven, trillion, and then Amazon at one point, two, two, seven, trillion and Google alphabet is not that far behind at nine hundred sixty four billion dollars, so it's quite amazing. Has As has been the case for years now. Larger growth oriented companies are doing better, which means in some cases, pricier stocks have gotten pricier and cheap stocks have gotten cheaper. Here's an interesting tidbit from Jason swags journal Article From last Friday quote. The fifty most expensive stocks and the S&P five hundred as of December thirty first were up. An average eleven point three percent through June third according to Drew Dixon. The Chief Investment Officer at Abbott Bridge capital the fifty cheapest stocks at the end of last year. Meanwhile we're down sixteen point eight percent so gross stocks doing well value stocks still struggling.
Federal Reserve Expands Business Lending Program
"That in response to the economic impacts from the coronavirus the federal reserve is stepping up and stepping in in a big way supporting liquidity in the market not just buying treasuries but also going into the corporate bond market to get a sense of what that means for the credit markets welcome Bob Michael Bob the chief investment officer and head of global fixed income currency and commodities at JP Morgan asset management Bob thanks so much for joining us so as we take a look at what the fed is doing here in its support of the markets in liquidity the markets what do you make of their moves into the corporate credit markets good morning Paul but I think moves into the corporate market and also let's not forget into the municipal market and into parts of the non agency mortgage market where critical and necessary so I applaud it they try to keep those markets functioning they they could allow what was happening in those markets where they were effectively froze and with very little trading going on because they were perceived to be outside of any kind of central bank safety not to continue to operate that way so I I think it was a good first step Bob the fed has said that they're going to delve in the into the corporate debt market they have yet to actually do so and I think it's interesting that yesterday fed chair Jay Powell indicated they were willing to go further and yet they haven't even taken the first steps when it comes to actually implementing it in the credit markets do you think the market's gotten ahead of itself piling into junk bonds in particular with the expectation they'll be backstopped by the fed yeah I think so and when you think about what the fed is doing third they're going to buy fallen angels or companies that were rated investment grade towards the end of March that may drop into the high yield market I think that's smart because those are companies that were running basically investment grade financials before the crisis the crisis isn't their fault and you were putting too much pressure on the rating agencies you're effectively telling the rating agencies without being able to buy fallen angels that they could be leveling a death sentence on these companies so they they took that away but when we look at their support of the high yield market we estimate that it will be roughly ten percent of the high yield market it's not a lot it will keep the high yield market functioning but it also doesn't prevent high yield companies from defaulting I think you're going to see a rise in default rates for a prolonged period of time so but here's what I'm struggling to understand yesterday after fed chair Jay Powell's press conference about half a billion dollars flowed into H. Y. G. or at least that was the total amount of flows yesterday into the biggest U. S. high yield bond ETF which bought by the broad market not just fallen angels and you said that you do think the market's gotten a little ahead of itself so does that mean that you're selling high yield bonds here what does that mean in terms of your positioning well it means a lot of things I think well a lot of the market got confused when he said there would be a new platform sheet on the man's main street landing facility and most investors took that to mean that the leverage limit that was put in place might be relaxed or eliminated which we've been broadened out the coverage two more highly leveraged companies and a broader array of of the universe after all they they all are employers well I think people additionally winter that we step back and say hang on it in this market you've got to take every company and you've got to structure than we do multiple stress test trying to think you know how how how deep could the recession go for how long where does the pecan unemployment we do things like a shut down for nine months and unemployment peaking at over twenty percent and then see what a company's balance sheet could look like could it withstand it do they have access to capital and by the way when you run that kind of stress you find a lot of companies even though they may have access to capital at that point in time actually it doesn't make sense for them to do additional borrowing because they'll realize at the other end of this their ability to pay back all that that won't be there the market's got to start to realize that just because there's access to lending and borrowing doesn't mean companies will continue to take on another turn of leverage at some point they'll realize they can't service it sebab given you know the backdrop for your economic outlook at that JP Morgan investment management asset management how much risk are you guys willing to take right now a very moderate level of rescued in fixed income group the core of our portfolios are invested along the stream of contrast with the central banks what they're buying you buy that's a pretty good safety net at least for liquidity around you then roll up your sleeves and and look at what falls outside of that safety net in Yemen the the corporate space in the securitized based in the meeting space and see who can withstand an extended period of a shut down and high unemployment and then you find out that there are some companies out there there are some industries that can but there are awful lot that count I'm just wondering Bob what's your base case you said you're looking at potential stress cases of nine months just quickly here what's your base case for the economy well our base case is that that you don't return to normal for a while and that we will see unemployment peaked at over twenty percent and then as you start to get to the end of of twenty twenty one you're down to about nine percent now that may seem great relative to a peak of over twenty percent but let's not forget that during the financial crisis unemployment peaked at ten percent and we know what kind of pain that was to try to recover from that so there's a lot of hardship ahead this feels to me like the second quarter of two thousand and eight where the first quarter was horrible there were policy responses and and the market immediately became optimistic and then the horror of what had actually happened starts to hit into their data Michael with a pretty bleak assessment Bob even right many times it's always a pleasure speaking with you Bob Michel chief investment officer and head of global fixed income currency and commodities at JP Morgan asset management saying invest alongside the fed don't go into much riskier credit and really the idea that this reminds him a lot of the second quarter of two thousand and eight when people said Bear Stearns was anomaly and then of course in September
Coronavirus recession is "likely," economist says
"Stocks surged the most since October two thousand eight after president trump reassured investors his administration is taking measures to combat the coronavirus including stepping up testing and bolstering the oil market for the week however it was a losing week with the S. and P. five hundred index on the week plunging eight point eight percent as for the economic backdrop Jeff Kline top is chief global investment strategist at Charles Schwab we know what likely entering a global recession it's too early to tell the depth but the economy and the invulnerable to a shock after schooling last year we don't know what that shock is and if you're looking for past reference points for what has happened to markets Emily Rowland as co chief investment officer at John Hancock investments if you look at nineteen eighty seven which we would stay with yet another example of kind of a stock in a shock impact the market the market actually reclaim those prior highs in just under two years so we we would use that as an analog for what we're seeing today forecasters meanwhile see the American economy stumbling over the next three or so months and with that story here's Bloomberg's Vinny del Jude ice longest economic expansion on record is slammed into an unprecedented threat the global pandemic covert nineteen kana surveyed by Bloomberg project U. S. growth will stall in the upcoming second quarter eking out a point one percent gain and that may be generous as things evolve economists also pick the probability of a US recession at forty percent the police outlook since the financial crisis in March two thousand
Reported virus cases spike as Europe sees its first major outbreak
"Corona virus contagion hit the U. S. stock market today heart the Dow Jones industrial average tumbled more than a thousand points that's more than three and a half percent investors are spooked by the growing number of infections outside China and the possible economic cost if the epidemic spreads clusters of corona virus have been diagnosed in South Korea in Italy and in a run and your Scott Horsley reports up until now the U. S. markets had seen largely immune to corona virus shocks but not anymore investors were rattled by a spike in the number of cases beyond China's borders Italy went from just three confirmed cases last week two hundred and twenty four Italian authorities have now sealed off some of the hardest hit towns near the country's business capital of Milan they also canceled soccer matches and the last two days of carnival in Venice J. Bryce and Wells Fargo securities says that may not be enough about your operate very very open borders and if people are affected in Italy could very well spread to other European countries that's the last thing Europe's already slow growing economy needs Diane Swonk whose chief economist at grant Thornton says as other countries work to control the virus is likely to further dampen economic activity yeah I went there you know telling people to stay and they're shutting down schools and institutions and plant the same thing in northern Italy now parts of northern Italy actually canceling conferences and telling people to stay N. swung was attending a conference of business economists here in Washington where the spread of the corona virus and the resulting stock market plunge were very much on people's minds this is not a health pandemic yet but it's becoming rapidly in economics and Dominic some U. S. companies were already feeling the effects of China's massive quarantines and the spread of the virus will only amplify that like China South Korea is a major exporter supplying the U. S. with nearly eighty billion dollars worth of goods last year Bryson says some of those exports are finished products but others are components used by American manufacturers of electronics computers and cars we import for amount of auto products from South Korea and if the country were to shut down for any reasonable length of time then you could have supply chain repercussions here in the auto industry in the United States Ford shares were down more than four percent today apple shares lost close to five percent many forecasters have been expecting a rapid rebound from the economic pain the corona virus outbreak but Swonk now worries it could take longer with the virus still spreading she warns businesses consumers and tourists could make lasting changes in their sourcing shopping and traveling plants combat in the outbreak is actually feeding into this years that people have out there which is a tax on the global economy itself numerous business meetings and trade shows in Europe and Asia have already been canceled that has an immediate toll on airlines hotels but also a more lingering cost in deals that don't get done for shoppers and travelers within this country the fear factor remains fairly muted to date there have been just thirty five confirmed cases of coronavirus in the United States and only two of those were contracted here so far in North America there's been a mild response people don't walk around wearing masks they haven't canceled events yes David Kotok is chief investment officer at Cumberland advisors he's been saying for weeks that the stock market was underestimating the risk of coronavirus today he thinks the pendulum may have swung the other way one has to now say is the market now going to extremes is it going to panic Kotok is still cautious about the virus itself he's the rare person in Florida who actually does wear one of those protective face mask these days he's bolder though about the financial contagion on the day the Dow was losing more than a thousand points Kotok was buying stocks Scott Horsley NPR news
Coronavirus impact on financial markets and economies
"Taking a look at markets this morning overnight Asian markets actually surged overnight after president trump was acquitted in his impeachment trial China promised us some stimulus to help businesses reeling from the corona virus outbreak on markets in Tokyo Hong Kong Seoul all rising Shanghai Sydney to India to home health care and financials led a broad rally given the market its third straight game what to expect today and the rest of the week well let's bring in our regular guest Chris for Seyss joins each Monday Thursday here on America's first news he's the chief investment officer at to medical research we distill the everyday noise around us into clear investment ideas any co authors the daily markets note for nasdaq crisper sese good Thursday morning my friend thank you for joining us as always happy to do it that way happy Thursday do you yes I have a question for you Chris because I why I have made that you do merry daily the San Francisco fed told C. N. B. C. that the fed's rate cuts mean the US economy is a well prepared for any potential economic uncertainty surrounding the corona virus does the market I agree with that and and why not or what we just heard I I think it depends on which market you're talking about it looking at the stock market which is you know going on us for the day of the you know strong rebound following last Friday's selloff it seems to suggest that you know we don't need that at least not yet and I and I say I like pause there sure it is I'm I'm assembling today's morning no you know we are seeing companies that are increasingly giving cautious guidance citing uncertainty surrounding the corona virus you know so for example Estee Lauder usually gives quarterly guidance today they're saying that you know that's a direct quote uncertain nature of the wrist related to the crown of virus they're offering guidance for the full second half of the year the companies are trying to take a longer term view assuming that there is some read coming out of the market may have our investors taking into account other factors I mean that what about the tools available to these governments state to counter this damage outside of what's that the fed is mentioned here well and I mean you know the better than earnings X. at the better than expected earnings that's got I got a blunt some of it I think that some of it I think is the fact that the way that it appears that the pace of the corona virus spreading outside the US has slowed you're somewhat sport there are some vaccines that are being developed and earnestness and then of course there's the economic data that came out the US the better than expected and then last week I think you alluded to this this morning you know China is talking about cutting some of the terrorists so it you know there's a lot of reasons for people to be in a in a good mood I think the uncertainty is now to what degree does the corona virus continue to what you know what impact will actually have on February and March remember you know apple closing store Starbucks closing stores the the litany of lines our stars litany of news that we've had for that airlines on the cow is no shutting it knows you know so that there will be another shoe to drop make no mistake sure China cutting terrace on seventy five billion in what's considered to be a trade truce is that part of the phase one Chris how does all of this work work into working to then that's what that's what it sounds like I I I think it's a little we weren't expecting it but I am that I believe it's part of that I find it fascinating that on February fourteenth I'm trying to work a line in the morning no I wonder if the little message here yeah we will look for that day and the nasdaq today Chris up well let's talk about Disney plus results the significance of that Russian you'll crushes and Bob Eiger says look we're we're adding more content I mean this is scared off your neck X. well it it well it isn't it isn't right I think that people are going to be less searching out quality content you don't hear Disney talking about putting this content on ABC which also owns but let's remember that right I think it is it points to the xcelerated ship course training services to be fair right now I mean you know there are a handful of them and but they're more likely to go back I mean we know peacock it's going to be doing things which is the Comcast yeah NBC products user would make no mistake you know things are going to heat up it's just going at it like putting a lobster in the pot right it's going to take a little bit of time to reach that
Dow down sharply on China virus fears
"American financial markets are not immune to a new respiratory virus that has spread quickly from China stocks fell sharply today on fears the corona virus could take a larger economic toll than initially expected the virus has sickened thousands of people and killed more than a hundred as NPR Scott Horsley reports there are signs that the financial fallout like the virus itself may not be easily contained the selloff came as China's government moved aggressively to limit travel in and out of the region where the outbreak began tens of millions of Chinese citizens are now blocked from traveling around the country at the height of the lunar new year typically a busy travel season what's more the government extended the holidays usual weeklong factory shut down by an extra three days I would be investors are going to wake me up to to that story straight Beamish his teeth Asia economists for pantheon macroeconomics she wears the quarantine comes too late to stop the spread of the virus since numerous infected people were already on the road but she says the travel restrictions will put a serious damper on holiday shopping and excursions right one of the phones you McCurry economy investors in Japan thought so the Nikkei stock market suffered its worst drop in five months today European markets also slot here in the US the Dow Jones industrial average tumbled more than four hundred fifty points that's a contrast with much of last week when US investors were largely unfazed by the outbreak when I spoke with chief investment officer David Kotok of Cumberland advisors a few days ago he warned investors were underestimating the potential fallout the markets who are saying I in my opinion this is nothing more than a cold and Sniffles business as usual are not evaluating the risk well enough the challenge for forecasters is so much about this virus is still unknown many looking for a model in the sars outbreak of two thousand two and two thousand three which killed more than seven hundred people at first glance this virus appears to be less severe but Jay Bryson acting chief economist at Wells Fargo securities says China is a much bigger player on the world stage now so any fallout will be amplified what happened decided to charge the comedy is more than doubled over that period of time and so if it if it were to slow down significantly because of this you know that could have some spillover effects to some of its trading partners in two thousand three China was still a newcomer to the global trading system Todd leave the lights as market says today it's much more integrated with the world's economy obviously depends on you know whether or not the government effectively contain the outbreak but in terms of the us a question destruction you we much bigger than before please as China's economy is also more fragile today the corona virus emerged after a period of slowing growth and attends trade war with the United States Chinese consumers play a bigger role in the country's economy now than they did back in two thousand three and so far that's where most of the cost of this outbreak of appeared airlines and resort companies have seen their stocks fall in anticipation of reduced demand from China the outbreak could also make it harder for trying to make good on the big purchases of US goods that were promised in the newly announced phase one trade deal every economic storm brings a silver lining of opportunity though some of today's big winners on Wall Street include a company that's working on a vaccine for the corona virus as well as a firm that makes protective masks it's got Wesley NPR news
Dow ends down after weaker-than-expected jobs report
"Stocks fell from records after the latest jobs report delivered mixed signals on the strength of the US economy and with that story here's Bloomberg's Vinny del Jude eyes America's economy added just one hundred forty five thousand jobs in December below the full year average even so Bloomberg economics as the pace of hiring wall slower is still sufficient to drive unemployment down in the new year in December unemployment was running a half century low with three point five percent down July schoolwork radio reaction from Tiffany Wilding chief economist at pimco the one forty five total payrolls gained in December and I was a little bit weaker than consensus but there's probably some quirks going on with the data because of how the thanksgiving fell on the calendar this year so actually we're more focused on the aggregate hours numbers in this report and and actually they look quite a bit weaker than they did in November and Rick reader global chief investment officer for fixed income of blackrock says you got to keep the jobs number specifically that one hundred forty five thousand gain in perspective this is a bit from the new one's going to be a bit of a bit softer that being said how could you not how is it a bit softer after these incredible reports we've had and you still hired forty thousand people in retail forty thousand people in in leisure almost forty thousand people in education health services the numbers are impressive the online mattress retailer Casper sleepers filed for an IPO it shares will be listed on the New York Stock Exchange under the ticker C. S. P.
Wall Street's leading stocks reveal investor caution
"China and the US are said to have made progress on the trade front and that help to lift stocks to records in the US last week but there's caution among money managers including Charles Henry Munt Chow chief investment officer at all male capital who says trade negotiations have a long way to go so I think this phase one is is do able we are perfectly making progress on this we're getting face to that would be to know that the big focus on twenty twenty and and that would be much more difficult if it Intel was interviewed on Bloomberg daybreak
David Rubenstein talks to Ray Dalio
"David Rudenstine sat down with Bridgewater associates co chairman and co chief investment officer ray Dalio to discuss his early life and how we got hooked on the markets so you grew up in Long Island and where you're from a wealthy family no like that was a jazz musician very lower middle class when you were a young boy were you interested in the financial world or what were you most interested in growing up when I went I got hooked on the markets when I was twelve because I used to caddy and I would take my money and I put in the in the markets and everybody was chatting about the markets so on how did you do well the first stock I bought I book because it was the only company ever heard of that was selling for less than five dollars a share and I figured I could buy more shares of went up and make more money that was my strategy her work and it worked and I have a work because this company was about to go broke and somebody came along and acquired it and it by local it went up and I said this game is easy then decided that I would be involved in the markets in this game is anything but easy so in high school were you interested in academics or were you a good student no I had at our school I did cut classes a fair amount of classes to go surfing did you have a hard time getting into a good school calling all yeah I got into CW post college on probation probation on probation okay and what he did well there I loved college okay I love college because well besides mixing the all the fun that college gives you it also when I like this and I could pick the subjects that I was interested in and I am so I look I love college right you must have done research well because you got into Harvard Business School yeah I did I got the upgrade grades when you graduated what do you do so in my two years it's a two year school in in my summer I like to trade commodities I got in trading commodities now this is down summer of seventy two and so nobody ever for more business school wanted to commodity division but I went to Merrill Lynch's commodity division I said Hey can you give me a job the director of commodities in that summer gave me a job job to help them around nineteen seventy three we have the oil shock bear market in stocks commodities is the hottest thing was hired as director of commodities at Dominic and Dominic having never done anything and the director of commodities but as part of and that's so that's what I say let out eventually though to set up your own firm yeah the so I that was seventy three seventy four big bear market in stocks are the Dominic and Dominic essentially went broke I went to what was sandy Weill's firm CBO Leo Hayden stone at the time became Shearson Hayden stone remain above the law because of our did all those mergers I became in charge of institutional commodities in other words hedging of all different things hi and that put me with all different futures markets and then we got into the environment where seventy four seventy five you got into this environment where the interest rates targus a monetary policy all of those things were driving all the markets so that got me hooked on those markets but anyway I got fired from there because I was a bit rowdy did you find someone that can share some thoughts in the face for the appointment book that's not a good way to prepare for that was but that was it was new year's eve we got drunk on new year's eve and you punish somebody other than your boss didn't think of that anyway he but it didn't last long okay okay so you have to always started the farm because I was and because the clients who want to do business what year was at the start of the firm nineteen seventy five so it grew truth from one or two employees to how many well in nineteen eighty two it was I I think there were eight employees a in here at one point and then I had a terrible eighty two so and then it came down to one employee so nineteen eighty three or so it was just me you have to borrow money from your father yep so let me tell you about the moment so nineteen eighty nineteen seventy nine eighty eighty one I calculated that American banks had lent a lot more money to emerging countries of those countries will get paid back and I anticipate that there would be a debt crisis and with that an economic crisis so that was my thinking and August nineteen eighty to Mexico defaulted on its debt and a number of countries fallout and so because I said that I got a lot of attention about that and I thought that was going to be producing a bear market in stocks and I could not have been wrong more wrong August nineteen eighty two was exact bottom the stock market and I was wrong and as a result of that let's take my employees are lied to let them go I lost money for myself on was money for and I had to borrow four thousand dollars from my dad it was the most painful one of the most painful experiences but it was one of the best experiences that ever happened to me in my life that was Bridgewater associates co chairman and co chief investment officer ray
The Finance 202: Economists project Trump will win easily in 2020 — and by a bigger margin
"Trump according to The Washington Post economists in the trunk should actually went pretty easily because of the economy according to The Washington Post president trump is on a fast track to an easy reelect that is the conclusion reached by economic forecasters despite headlines from Washington that suggests from political fortunes are only pointed south as he battles encroaching impeachment inquiry and Republican defections over his handling of the Syrian crisis moody's analytics projects the present win handily next year if the economy doesn't that we stumble and in fact wrap up a greater margin in the electoral college in Israel forty two twenty seven victory he secured against Hillary Clinton twenty sixteen Danny is chief economist at moody's analytics and co author of the paper outlining his findings he said if the economy a year from now is the same as it is today or roughly so the power of incumbency is strong and from selection other very good particularly if Democrats aren't enthusiastic and don't get out the vote is that turn out there's only one problem with that which the turnout for Democrats is going to be extraordinary it's going to be extremely high because trump gets out the vote on his own side and he definitely gets of the vote for Democrats as well as twenty eighteen demonstrated but assuming average democratic turnout which of course I don't think that's right but if you assume average democratic turnout than what you would see is president trump winning a bevy of states why a huge number of states including some states that he lost last time he would end up winning I mean it's it's pretty amazing I'm sorry economics says that if trump were like a normal Republican president like if you work twenty to one fifty five percent of the popular vote next year it's a troubling fifty five percent of the popular vote if you're buying a significant downturn in the economy Greg take on James Watson to senior economist with the former lastly quote well wide range of issues have influenced presidential elections over the last few decades in healthcare in foreign policy to taxation government spending one factor is been constant it's the economy stupid by the reckoning of that firms model three key economic indicators unemployment inflation in real disposable income growth all favor trumps reelection they'll way and negative exhaustion factor with trump that dense his support in the projection now take on what's in a knowledge economy isn't everything according to The Washington Post but their model which means on it accurately predict all but two popular vote outcomes going back to nineteen forty eight the only ones that they do not work nineteen sixty eight and nineteen seventy six and the reason is because nineteen seventy six was immediately in the aftermath of Richard Nixon stepping down in nineteen sixty eight involved the assassination of Robert F. Kennedy and LBJ dropping out of the race and all that now they are pointing to key CAP yes they could hamstring in their models accuracy at this time excludes non economic factors that a candidate's record that are vital in most elections and it pays no attention to candidates attributes such as race gender or like ability the fact that maybe centrally important twenty twenty so we're about to find out whether the hard metrics of the elections really do come down to the economy is really what we're saying here it'll be a fascinating sort of data driven question if from wins at your shows the durability of the economy is the real number one nation elections is nearly unsurpassed if from loses and that shows that the economy as a sort of my suspicion is very often a secondary concern meaning that if the economy is bad you're definitely gonna lose if you're the incumbent but if the economy is good that doesn't necessarily mean you're gonna win if you're the incumbent also obviously they say the economy tanks from stun another model some of my friend metrolyrics accurately predict every presidential Victor going back to nineteen fifty two by focusing on the effects of the economy and incumbency on the electoral college according to Donald Luskin the firm's chief investment officer the project the trouble win reelection next year with three hundred and fifty four electoral votes a margin it seems staggering on its face to get something that high you have to go back to Reagan and that may not be possible in the red world we live in now Luskin says model stakes first German Cummins when they had the advantage that was the other way for candidates seeking to hold on to a third or fourth straight term it factors in six economic indicators including oil prices personal income inflation and tax burdens but none of these models include the president's approval rating why well because they say it doesn't carry much predictive power and by the way his approval ratings are basically sort of middle of the pack when it comes to other presidents at a thousand name I remember Obama's presidential approval according to Gallup and Rasmussen was it forty one percent of this plan this presidency trump is currently forty four
"chief investment officer" Discussed on NewsRadio 1020 KDKA
"Chief investment officer Brian Colin just moments for our kind of set the table straight from the headlines the Wall Street journal today Saudi Arabia soon to restore most of all of its output. cover within weeks the country's oil minister said today she can you claim global calming go global markets reeling from the twin attacks on its largest oil facilities newly appointed energy minister prince Abdul Aziz bin Salman said that the kingdom is already supplying oil to its customers at pre attack levels and that normal production levels were returned by the end of September to me Brian Coble that's a pretty amazing feat for Saudi Arabia especially after what happened with those drone attacks and I think it just gives you an indication why the oil business is booming still and why it's so important to the economy worldwide good evening. good evening rob thanks for having me it is amazing but I will say that this whole conversation is so much different today than it would have been fifteen years ago if you remember back then the conversation about peak oil and that we're running out of oil and oil was at a hundred and forty dollars a barrel compared to today at around sixty dollars a barrel but in the U. S. things have changed so much we're now the largest oil producer in the world we are a net exporter of energy as of late last year oil production over the last decade or so was up three times. and the energy prices are are still pretty low so it's amazing what fifteen years ago would have been a major international crisis is still a big deal but certainly the I think the global economy is able to absorb that much easier today that I could have back then people like Exxon Mobil conical Phillips I'm always wanting to see with these companies are doing because I don't think the average person and rightfully so understand how many people are employed and making money because of the oil industry and what it does by those paychecks going back into our economy we all look at the sticker shock when it comes to the price of gas still very reasonable I think but more importantly why big will truly does drive the economy especially the bulls and bears on Wall Street Brian. yes so about a million people are employed in the U. S. in the energy sector that is out of about a hundred fifty million people employed total in the U. S. so it is very meaningful probably not as meaningful as a percentage of that would have been in the nineteen seventies however this flip side of that is of course the energy the economy has become so much more energy efficient. and so if you think about the average shot truck pickup truck today is more energy efficient than the average car of the nineteen seventies so the oil prices go up gasoline prices go up what were able to take it in stride and so today national average gasoline prices about two dollars sixty cents a gallon you really historically have to get to about four dollars a gallon before people start to feel the pain psychologically hurts and they start to curb spending but I would say you know we're we're in good shape throughout this no help me with this and I'm not sure I heard it but I'm sure at one time on your wonderful program this on the air every single Sunday nine AM until eleven AM with Mister Meredith it's about thirty eight dollars a barrel if it gets to that point people start losing money but it's got to maintain that price tag for people to be able to make some sort of living is that fact or fiction. well it's it's basically fact but it depends on where you are in the world so it's kind of like a breakeven oil price in U. S.. we have the luxury of having a lower breakeven price in other words we control oil cheaper here are they making an overseas due to the technological advancements due to horizontal drilling fracturing shield rolling it cetera and so if you recall your listeners recalled on August was five years ago now back in twenty fourteen OPEC made the surprise announcement where they were going to increase the amount of oil supply in that sense oil prices plummeting throughout the world and they were trying to undercut the US they were trying to knock out north American shale drilling by undercutting us and they did not realize how effective oil drilling is in the US now and we ended up winning that we ended up winning or the tradition we were able to in the U. S. survive a lower oil prices and continue to drill and was actually from the OPEC countries had the oil prices fell below their creaky so in terms of oil and power in geo politics would really seeing the the table turned over the last five years as a consequence of what's happened with north American shale Brian Coble so gracious to join his half until it's in of course chief investment.
Michael Jordan says Hornets add 2 partners
"News Michael Jordan is adding two partners to the Charlotte Hornets ownership group K. Plotkin founder and chief investment officer of Melvin capital and Daniel son time founder and chief investment officer of D. one capital have joined the Hornets as partners pending NBA approval Jordan six time NBA champion will remain the
US, China And John Woods discussed on Bloomberg Finance
"A former China central banker and others more into today of the risk of a currency war with the west the US is label China a currency manipulator chan you want China's former deputy governor of the people's bank of China says that signifies the trade war is evolving into a financial war and a currency war and that could mean a long term conflict John woods is chief investment officer at Credit Suisse Asia Pacific I think the markets essentially positioning itself now for the long game I think this dispute is going to continue I think is closely linked with the election cycle from the U. S. side and I've noticed now with that the November twenty twenty date seems to be quite the an important way point as far as the sun dispute is concerned which was interviewed on Bloomberg
Fed, Chief Investment Officer And Guggenheim Partners discussed on Financial Issues
"Now turning to the fed forget about rate cuts the fed should be hiking that's according to Scott Meinert chief investment officer of Guggenheim partners he's warning of potential over seating saying a preemptive rate cuts will lead to unsustainably Holly asset prices and that can only make the next downturn worse but it's a few US president Donald Trump doesn't share he tweeted that a small rate cut wasn't enough that the fed has made all the wrong moves the most interesting if you look at U. S. equities Roger I mean there's an article in the blue about talking about the fact that investors have actually been fairly the giving of companies this earnings season third quarter EPS guidance according to Bloomberg day towards becoming the worst since two thousand eleven it was still seeing stocks hitting record highs in the U. S. so it suggests that a lot of the support is coming from the expectation of a fed rate cuts on maybe some progress in
Fed, Fifty Percent And Four Percent discussed on Bloomberg Daybreak: Europe
"And of course the big day for the federal reserve it's gonna be one of the busiest weeks of the year for monetary policy the fed is the only course to announce its decision on interest rates on Wednesday the bank of Japan and then the bank of England have also got decision days joining us in all of this you guys Chris widely chief investment officer at Qana brutally good morning Chris thanks for joining us a blue bag radio is that a surprise factor left for the fed you think they're likely to consider a half point move ways people have got twenty five basis points based in does the zero bound support something more aggressive or not this is interesting at the moment let's define what would be a disappointment if you look at market consensus full cost then twenty five basis points a quarter percent should be what's expected but you can't help but feel that if we call call four percent it would feel like a disappointment and I think that's the route would be interesting to see how the market does respond this week it does seem likely will get a quarter point cuts because of the risks around Hoffa pointing cuts I'm actually kind of just set yourself a new problem if you go with half a point now because then people say is it one and done little that sort of thing as well as about national forget this is a reversal of fed policy in a six month period there is only last December they lost race right said the cut by fifty percent it's implies even of the outlook has changed radically all they did make a mistake before so I think all of that kinda corrals you in the direction of the quarter point cuts and I think there's a bit of a rest that when we get said market site after the rally we've hats mica heh heh well if that says you know let's go back to what was saying and then things and nothing will that's not great either and we've hit some critical technical levels maybe the rally has kind of you know done it stuff for now okay circles point might distract us from the ending season for too long then Chris what about the explanation that the feds gimmick if this week for the right what kind of dominant narrative again we gonna end up with you think after we hear from the fed made weak because the essence is if they can say that the days you know we dated dependent on a live dates was been dreadful because not all what has been dreadful I guess I think it's still the narrative of and of an insurance rate cops and again that's why I think Hoff said point is less likely because it's difficult to maintain that if you're making such a radical change in policy so then I still going to be the narrative I think the reality of the situation is this the political environment is frankly feeding through into the management of monetary policy I think it has to be this react to it the no matter what expression they give us the fat do you think this is actually because of pressure from trump I think it's definitely fed into this and I actually attended the conference last September what Janet Yellen was a keynote speaker and the the single biggest rishi identified was political interference now it's not hi I was gonna say is not explicit is pretty explicit but it is not listed in terms of changing the mandate of the even that's been to things with its implicit but I've seen this many times before the fed does respond to changes in the political environments and that this has happened here so I think it's just ought to fruition a little bit more that long running debates about should we pride talks in price levels that full can we tolerate and over Shusef inflation off the role of under siege I think it's really crystallizes arguments and that's one of the reasons why we protect you like gold now because I think that does well in this sort of environment where negative real rates up back on the agenda will you talk about politicization of central banks which is really fascinating if the price of many around the world including the bank of England we've got now this new kind of crisis cabinet that the prime minister has formed the new prime minister Boris Johnson Hey I'm we have a an interest rate decision and a press conference at four month Kanye expected this week I'm actually by giving it is been the most reluctant it seems a one of the more reluctant to try to ease at on the brakes it risky still choose how much you think that mark Connie's going to discuss that and we have what you think of the UK market right now well you know sacred cows of being let out stores left right and center in this world on the inside one of them is a bank bank independence let's not forget the bank of England was a relatively renewed new recruits yes central bank independence of any happened in the nineties so and of course when you've got a government which is deliberately using the rhetoric of war you know obviously and by all means necessary the wall cabinets systems yes a sister and top in times of war you do extorted things you do what is necessary in the interests of the country and that for that just opens the door bit more since the questioning some of these convention I look I'm not saying that the governments of overnight in the suddenly with Joel central bank independence in the U. K. in fact differentiate paired instability either one of them more instability and uncertainty on that but I think we will probably see the bank of England continue to be pressured I think mark Connie is confined to yesterday's man now not sure we have huge credibility of markets before which is tomorrow is man is that city and what about U. K. assets than in amongst all of this because we haven't come station on that TV a little bit earlier on about how far down the sort of market cap spectrum you have to get you to get domestic exposure not that you've been seeking domestic especially busy reveille domestic exposure so I suppose is you know do you just by foot see one hundred yeah happy without giving the international may couple could you even be tempted into fifty to fifty yeah we yeah we all happy with that see one hundred as you'll I made bats in the UK at the moment of course is the whole point is it's not really a bass on the U. K. it's a pretty global index as was saying this morning you get a whole heap of foreign exchange exposure when the pound goes down it tends to go up as a consequence to get real domestic expect a real small companies exposures really hot if you buy lots of U. K. smaller companies funds as that badge and you look at how the indexes that they track a constructive actually you get a whole heap of mid cap so there of relatively few funds that pretty give you small U. K. specialist for us right now isn't a problem but because they don't particularly seeking about us but we have been thinking about how we would get that in a further down the road if we were able to sort of take a pops a broader approach you just buying the river but mean vestry potential the bounce back attention and in the U. K. Chris thanks very much thanks for joining us this morning Chris Weinke chief investment officer at Qana
"chief investment officer" Discussed on 77WABC Radio
"Chief investment officer the man with the plan and I was to be my father big Bob Payne good morning dad which shaken on this glorious July weekend as were you know in the midst of summer here yeah beautiful summer rug a beautiful blue skies the heat wave is over in the markets of all time record high as a chief investment strategist nothing could be better you know Bob it's it I agree this is because it gets the only thing you need to do Uzi on that deck Bob if you have that I'd be done every weekend I'm working on arrival we get to del fifty thousand give me a call only twenty five thousand more points to go we have a great show this morning to help you on your path to financial freedom we're gonna talk about financial myth busting their lot of beliefs we have about our retirement planning that just aren't true Bob and I debunk some of the biggest myths about your financial life we're going to talk about the right questions what questions should you be asking that you're not when it comes to building your financial master plan along with this week's financial propaganda or Bob and I caught the worst advice the financial media has recently been broadcasting and our spotlight segment today we have our certified financial planner on the show Michelle McCann where she's gonna review and break down someone's real retirement plan for you so Bob there's an endless list of retirement planning believes that just aren't true I thought we go ahead and do bunk some of the more common financial mess and one I love here is the more a financial plan way is the more valuable it is in this reminds me of our Maryland status yeah I remember we had the the financial foundation was their idea of planning was at full of boiler plate Hey maybe that's why it's so heavy connecting with the huge textbook and I'm at least gives the clients I don't think bothers ever client that ever read that financial foundation it was it how do you looking at that yeah right that's not what plantings about planning about a process it's not about taking a list of of the boxes and checking them off and they all got that covered I'm done you know something has to be into it it has to be on going has to be process oriented and I think the the shiny earring gloss you're the brochure is the more sophisticated the languages and all the math equations and the more likely that you want to get away from that type of process right away because you're planning should be intuitive it should be easy to understand yeah we'll say complexity.
U.S. banks clear first hurdle of Federal Reserve's annual stress test
"The Federal Reserve is giving a passing grade to America's banking system is evidence of slower economic growth piles up, and with that story. Here's Bloomberg's Vinny Del Giudice, make your banks clear to key hurdle in the annual stress test the financial system. The ability to withstand an economic shock Goldman Sachs and Morgan Stanley, both Trump higher grades. The Fed's vice chair for banking supervision. Randall coral says the results show, the financial system is resilient. That's his word resilient. The stress tests were introduced in the aftermath of financial crisis. Thank you to go and he chewed ice. Bloombergradio fed vice chair Richard Clarita says the argument in favor of cutting rates has strengthened recently as cross-currents buffet the US economy amid heightened uncertainty. His remarks came in an interview with Bloomberg television and radio. Well, I think that, that we really have uncertainty in the sense that there's always some geopolitical uncertainty, but there's also uncertainty about how the global economy navigate. That a point you know you have negative interest rates in the year zone and in Japan, those countries are or well away from where they want to be. And I think that is a factor as as well. And Laurie hinal is deputy chief investment officer at State Street global advisors. One of the things that was really good coming out of the fed is that they're not sounding any warning signals. It's not as though the economy is really turning over. So we actually think that some of the market movement obviously, in response to the federal this week is actually going to follow through as we see good economic data so down Friday with the s&p five hundred index falling for the first time this week for the week though the S and P five hundred index gained two point two percents. The SNP Laura by three down one tenth of one percent ending the week of twenty nine fifty. The Dow down thirty four down one tenth of one percent. Nasdaq down nineteen down two tenths of one
Chief Investment Officer, US And Eric Kubis discussed on Dave Ramsey
"Yields on US two year notes for on tracks and their biggest today. Fall since two thousand eight the us benchmark tenure treasury yields earlier hit two point zero seven one percent their lowest since September of two thousand seventeen. Eric Kubis chief investment officer, northstar, investment management corP in Chicago. He said, what the bond market is telling us that all of these pressures put together create a likely economic slowdown which pushing yields down. In other words, people are starting to get a little bit worried about the economy at
U.S. Stocks, Bond Yields Drop Amid Trade Tensions
"Let's get a look at the daybreak newsletter. Maybe for a little bit more guidance on what you should. Would be watching today. The daybreak newsletter is out on customer terminals. You can get it typing. D. A Y, B go, and we go to the editor, Brian Fowler comes to us live from Tokyo. So let's start Brian with talking about treasuries. You know, it's really been the main story in markets lately. You know, the main pure market story, as we're starting to hear how trade tension escalation is weighing on yield. We see a little bit of a turnaround today. Yeah. Well mad. I think we saw a little bit of a respite but there's a lot of general angst and it really does start with with trade tensions between the US and China. We have footsie Russell's Alec young thing that he fees at this point that the likelihood is greater of things escalating before we get any kind of near term fix, and we have strategists from various places. Talk, Jen is saying that protracted negotiations would mean two percent ten year yields would be within the realm of possibility Columbia, Threadneedle strategist. Agrees to percent is viable, especially if, if we can date a spur, even more speculation of fed rate cuts, and just to punctuate all this. We had our daily dose of invective from Beijing where an official said deliberately provoking trade dispute is economic terrorism economic terrorism as well. You know what it sounds harsh, but I can understand the sentiment whether you agree with it or not. It's, it's an understandable sentiment. We've heard from a lot of important voices in the last twenty four hours, I was talking about dally L. We've also heard from pimco from Morgan Stanley from Laszlo Bahraini. We're going to get that Morgan Stanley interview out for listeners and just few minutes. It's an exclusive but what's the general gist? Yeah. Well, there's I mean, there's a diversity of views in the first place. So, for example, pimco came out saying. That credit market risk is at an all time, high from their chief investment officer of US core strategy and time. How time high and he says it's reminiscent of before the crisis. But, but even worse than that. And he says, it's due to everything from size and duration to quality and lack of quitting thinks that underwriting standards have have fallen apart, and we've got real trouble. But, you know, we're going to get to the Morgan Stanley Feo interview James Gorman, and he actually takes a different view. He says he doesn't see the credit markets risk is being that bad. He says, I know systemic risks systemic dangerous and this doesn't seem to be it in his view. All right. But of course he has to talk to some extent, he has to talk his own book, right where whereas pimco needs to make the right calls, CitiGroup joins P Morgan. On flagging downturn in trading revenue, speaking of their books, their literal books. What's the story for Wall Street banks so Bank of America. Well, I the latest is actually Bank of America. Ceo Brian Moynihan warning that that trading revenue in the second quarter is on pace to fall about eight percent from the first quarter that drop is actually a little bit smaller than the usual seasonal decline. You might expect but he he's quick to point out that that's not because things are good. It's really because the first quarter itself is also pretty weak revenue contract to fall about ten percent on year. And yes, we had similar kinds of numbers from both city and J P Morgan. I will say fifty city THEO, Michael Corbett fed that amid all the, the bad news. They do expect to pick up some market share at city. So there are some opportunities amid all that all the in the rubble of the trading. Brian great to get some. Some time with
"chief investment officer" Discussed on Bloomberg Radio New York
"Of event risk that we have seen inside you Rabia when you're having conversations with investors there what what is the most important thing for them in terms of diversifying. I think I think you just nailed the answer there. It is diversification. At the end of the day, if you put all of your eggs, so to speak in one basket that is going to dictate your outcome. And if you were right, and you will do exceedingly. Well, but can you tolerate the outcome if you're wrong? So so we think the most prudent step is to to diversify those risks and have multiple ways to win. Okay. Thank you so much for pumping in and shown you thoughts. This is one that is David McMillan global chief investment officer fan trans. Investment consulting. So that's the tight for all markets. What about you at night? We've got the embassador gathering in Brussels today. The EU is hoping to kickstart trade conversations with the US. The goal is to keep the threat of all tariffs at bay. But the talks are said to face delays with France resistance. So that's one of the things that unless the US backs the climate accord what could fail talks mean for the European auto industry. It is no mean feat. Donny Berga joins us in London. Danny. Good morning. Good to see this morning. So walk me through walk me through the ramifications of this morning minneso-. It will come as no surprise. You Germany is usually likely victim. We think of one point two percent of their Jeannie p is tied US auto exports. But as you can see on this map here, they're actually less likely countries, which might feel an even bigger relative impacts, so hungry and full of Ocoee there as much. As one point three percent of their GDP to US auto exports. So they they both have factories in the region manufacturers like Volkswagen and dime layer each of them sell one billion dollars every single year of cars to the US. There's really complex geography and any sort of US auto tariffs would have a wide reaching effect. This also comes at a really bad time for the wider euro area economy, especially Germany, you can see the PM is here. Germany in the blue dragging the entirety of the euro area down. In fact, Germany is Pam I- manufacturing read your earlier this earlier this week was the worst in about seven years. We also get some composite numbers out today. They're expected to show a weaker economy as well. So right as EU embassador are meeting, we're likely to have the scene set of a really struggling economy that auto tariffs would only further damage. Denny. Thank you so much any Boga that with the very latest on what it could mean if really is an escalation between the US and and Europe Donnie, thank you very much coming up on the show size and scope bring about today's number is five.
Tech companies power US stocks to solid weekly gain
"News Wall Street weekend. More on Wall Street finishing the week with solid gains for its major indexes. It was helped by retail, healthcare and tech stocks. The increases erased losses from last week when the S and P five hundred heads worst week of the year, the S and P has now posted a weekly gain nine out of eleven times this year. Investors bought bonds after a report on industrial production showed a second consecutive monthly decline in manufacturing in the US that Cynthia yield on the ten year treasury lower it fell to two point fifty nine percent from two point sixty three late Thursday, despite the gains global political turmoil over trade and more still weighs on investors says the chief investment officer at Northern Trust wealth management employers posted nearly seven point six million job openings January near a record high set a November this despite. Right signs. The economy has slowed Labor Department says hiring also rose on the number of people quitting their jobs picked
"chief investment officer" Discussed on Bloomberg Radio New York
"To thirteen twenty six sixty announce the euro dollar fourteen eighty five and again went oh, eight point five three the Dow Jones industrial average is up more than seven percent this month, the S and P five hundred is up about a that amount. And the NASDAQ gained more than eight percent today. We are watching for the weekly. Report on initial jobless claims at eight thirty Wall Street time and nine forty five. It's the Bloomberg consumer comfort index at ten new home sales GE, Amazon and ups among companies scheduled to report earnings today. That's at Bloomberg business flash. Now, here's Michael Barr with more on what's going on around the world. Michael good morning. Good morning. Karen? A bipartisan committee in congress began negotiations to consider President Trump's demand for funding of border wall, another shutdown looms after current funding ends February fifteenth NATO's chief has called on China to treat to Canadian citizens detained fairly and with due process secretary general Jens Stoltenberg said today that he was following the situation of the Canadians detained in China in December with concern in his first public comments about the case. The Canadians have been held in an apparent retaliation for the arrest of top Chinese walkway executive in the NBA. The Knicks lost the Celtics and wizards were winners. Global news. News twenty four hours a day on air and tick tock on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm Michael Barr. This is Bloomberg. Nathan. Thank you, Michael. It is five nineteen on Wall Street live from the Bloomberg interactive brokers studios. This is Bloomberg daybreak. Rejoined on this Thursday morning by Geoffrey Yu, chief investment officer at UBS morning. Jeff, why get your take on the feds sudden shift here from hawkish nece too dovish nece patients now policy. What do you see behind this? Well, I think can be a sudden word is the key think the market's always position, you know. So the more dovish will less hawkish lean but on the Swiss snus and the unequivocal nation, which has moved in probably his quote markets by surprise. I think that Teesside's into this one I clearly on a backward-looking basis we've had to shut down we've had ongoing trade tensions also comes into factor factors like a European growth. That's being soft them. So probably has generates the necessary need coaltion and somebody's thinking conditions. More importantly up ahead of the market's always on always need tossed question. Does the fed knows something that we don't know all the wise to fetch even a bit more concerned than compatible was being priced now that some probably the one area which would need to keep us awake at night. Yeah. So let's get your take on that. Do you think the fed know something, we don't know? Or is it going to be reacting to the data as it's been saying? So I think you're conditionality is one aspect on. But again, you not self and I'm to pay a downward undressed in data that market. Sometimes you not expecting what's going to be the catalyst to that. It breakdown inside a US talk some more, even if there is some on the train on picking up, you know, we'll Brexit become more disruptive to an already fragile European economy to be almost Carney expected and most importantly for military markets, you know, China fail to stimulate the economy renaissance onto what markets are expecting on on covering quantum. Now. That's quite a as well. So every needs to be cautious at this point. Yeah. You mentioned a lot of catalysts there. Does this sudden turn to dovish nece portend more volatility down the road? So you Nevada certainly or something we happy in some time, especially up ahead. And also risk goes. Let's say we gotta run of one or two courses. Stable Dato or even slightly more. Right bus than what the fed may have hidden today. We gotta cuff steeping again. I'm so is that going to be another shakeout in the fixed income market? So so when we have a switch like this. There's always a risk Scoffing at all I'm an overly cautious. Switch and then things have sitting around to know quantity. Again. It's so always a time as we approach late cycle heading into late cycle to, you know, manage your risk, very, very carefully. And even though I was still like wait equities not responded from side of it is something that we probably would want until I hope I'm not putting you on the spot here. Given what the fed is telegraphing. Now, what's what's your rape path at this point? Well, they're still missing. Potential more rate hike on towards the end of the right? I'm not thinking economic conditions, especially if we get confirmation through stronger payrolls number. That's that's where we're still in coastal. But at the same time, let's look at monetary conditions holistically. We don't see the dollar strengthening much further beyond that actually against majors the dollar could probably decline spread some, you know, probably looking at I read it to be spread some to nece- in some degree of pressure to all of that put together means you can have the fetch still generally, hiking rates if the dates Warren said without a general tightening and financial conditions, and we just the off the economy sorry about that. We just got the fourth quarter a euro area. GDP print point two percent in the quarter Italy now into recession what's holding your the euro-zone back. So I think it's a combination of the what the guy has external issue now that's starting to feed into lack of domestic demand. As well. Right. So we've been talking about that's folding Chinese demand the trade Wolfer. Yeah. Now, you can't keep on pending blame on that. So I think you know, over all that that clearly is at the site of the story that a clear Dina puts into doubt whether the CD's in a position to hike rates and heading towards the end of the year as well. But on the other hand, if we got a nice lift in the US near thanks to ease financial conditions and also in China and in in general dust, stabilize then you can also see an interesting case in for the stabilizing. Maybe you get that moves towards although to get that first step towards normalisation and write some at some point later in the but on current evidence is done looking at technical only about fifteen seconds here. So message of patients from the thank absolutely patients conditionality all central banks singing from the same sheet right now. Jeffer- you chief investment officer UBS. Thanks so much for this. Really? Appreciate you coming on Bloomberg daybreak this morning and taking look at the futures markets on Wall Street looking for a bit of direction now with s and p futures little change to the upside down futures.
"chief investment officer" Discussed on 600 WREC
"In with chief investment officer, Michael O'Keefe, Michael what are you focusing on today? Pat this first week of September. It's been pretty active equity markets around the world today are mixed with some markets up and others down trade continues in focus with discussions between the US and Canada around NAFTA continuing tensions on trade are still present between China and the US where we expect more talks later in the year. And is our listeners are aware today is the third day supreme court confirmation hearings for judge Brad Kavanagh looks like we have a lot of economic data coming in today as well. It's a big day for data coming out most of it positive. We ADP jobs there report coming out with a gain of one hundred sixty three thousand for August just below expectations. US jobless claims surprised to the positive with two hundred and three thousand versus expectations of two thousand. Thirteen. They remain historically low and are continuing to fall. Now. More people that work, of course, is good for the economy, and we'll see a little more unemployment tomorrow productivity is a measure that looks at growth of how efficient labor is in producing goods and services in the economy in the second quarter rate today of two point nine percent, was reaffirmed. That's a strong number. Then finally, we see fed members out speaking this week, including Neel Kashkari and James Bullard. Both of these folks are favoring looser monetary policy with other members favoring tightening. That means there's good discussion and debate happening at the fed. We've St. see that is a good thing. All right. Thanks, michael. This has been the stifle stock market report with Michael, okay? Chief investment officer for stifle, nNcholas and company Inc. Member SIPC NYSE look to stifle for innovative strategies to help you navigate today's markets to find steal financial advisor near you. Go to west TI F E L dot com, that's.
"chief investment officer" Discussed on 600 WREC
"Let's check in with chief investment officer, Michael O'Keefe, Michael what are you focusing on today? This first week of September. It's been pretty active equity markets around the world today are mixed with some markets up and others down trade continues in focus with discussions between the US and Canada around NAFTA continuing tensions on trade are still present between China and the US where we expect more talks later in the year. And is our listeners are aware today is the third day of supreme court confirmation hearings for judge read cavenaugh looks like we have a lot of economic data coming in today as well. It's a big day for data coming out most of it positive. We saw ADP jobs there report coming out with a gain of one hundred sixty three thousand for August just below expectations. US jobless claims surprised to the positive with two hundred and three thousand versus expectations of two thirteen. They remain historically low and are continuing to fall now. More people that work. Of course is good for the economy, and we'll see a little more unemployment tomorrow productivity is a measure that looks at growth of how efficient labor is in producing goods and services in the economy in the second quarter rate today of two point nine percent, was reaffirmed. That's a strong number. Then finally, we see fed members out speaking this week, including Neil cash Carey and James Bullard. Both of these folks are favoring looser monetary policy with other members favoring tightening. That means there's good discussion and debate happening at the fed. We've steal see that is a good thing. All right. Thanks, michael. This has been the stifle stock market report with Michael, okay? Chief investment officer for stifle, nNcholas and company Inc. Member SIPC NYSE look to stifle for innovative strategies to help you navigate today's markets defined to steal financial advisor near you. Go to west he I f AL dot com, that's.
"chief investment officer" Discussed on Newsradio 970 WFLA
"With chief investment officer, Michael O'Keefe, Michael what are you focusing on today? This first week of September has been pretty active equity markets around the world today are mixed with some markets up and others down trade continues in focus with discussions between the US and Canada around NAFTA continuing tensions on trade are still present between China and the US where we expect more talks later in the year ended our listeners or where today's the third day of supreme court formation hearings for judge read cavenaugh looks like we have a lot of economic data coming in today as well. It's a big day for data coming out most of it positive ADP jobs there report coming out with a gain of one hundred sixty three thousand for August just below expectations. US jobless claims surprised to the positive with two hundred and three thousand versus expectations of two thirteen. They remain historically low and are continuing to fall. Now. More people that. Work. Of course is good for the economy, and we'll see a little more unemployment tomorrow productivity is a measure that looks at growth of how efficient labor is in producing goods and services in the economy in the second quarter rate today of two point nine percent, was reaffirmed that's a strong number. Then finally, we see fed members out speaking this week, including Kashkari and James Bullard. Both of these folks are favoring looser monetary policy with other members favoring tightening. That means there's good discussion and debate happening at the fed. We've Steve footsie that is a good thing. All right. Thanks, michael. This has been the stifle stock market report with Michael, okay? Chief investment officer for St. nNcholas and company Inc. Member SIPC NYSE look to stifle for innovative strategies to help you navigate today's markets to find a steeple financial advisor near you. Go to west he I f AL dot com, that's STI F E,.
"chief investment officer" Discussed on Capital Allocators
"The Helmsley trust. It's a brand new foundations getting off the ground, and she's looking for somebody who could be a chief investment officer who's really good at dealing with difficult boards. And I thought to myself, you've dealt with CalPERS. So Linda and I met and I had always known of Linda and Linda had known of me, but we had never met. And when we met, we hit it off immediately and we met a couple of more times and I don't know how she did it, but she convinced the trustees that they needed to hire somebody like me. And then she brought me in to interview with the trustees and she had already laid the groundwork and I was in the supermarket a couple of days later. I'll never forget this. I was in the produce section and my cell phone rang, and it was Linda. Offering me the job, and that's how I ended up here. So you've had all these experiences. At this point you've worked for active managers work to delay, worked Wilshire, negative single capital, so you can put forward an investment strategy. What were the key tenants of what you believed worked for a pool of capital. Like this number one l. boxes. The Frank Russell company was famous for coming up with boxes growth value, large cap growth, mid cap, grow small cap growth boxes for everything, and I recognize right away that the box approach to investing was a disaster. It forced you to fill a box because you had one and then you had to pass on investment if you didn't have a box for it. So one of the things that became clear as that opportunistic investing has a place and should be celebrated. So the way that we manage money at Helmsley is that the biggest risk we have to manage for foundation. Is acquitted. He risks because we have to pay out five percent of our assets every year. And we have no say in that the IRS requires us to do that. Otherwise we lose our tax qualified status, and I might remind you what happened to our beneficiary. So needless to say, we had Helmsley are quite sensitive to the desires of the IRS. Won't you tell that story just in case people don't know Leona and Harry Helmsley were prosecuted by both the state of New York and the federal government for income tax evasion and specifically for having paid personal expenses from business accounts, deducting that from income and then paying tax on on the difference. So Leona Helmsley went to jail on the federal charges, but she was acquitted on the New York state charges with the different legal team and Alan Dershowitz represented her on the New York state charges. So anyway, needless to say, we're very sensitive to that here and her grandsons are trustees. Great guys can't say enough. Great things about MRs. Helmsley's grandsons. They're young is we'll relative to me, but I would follow them into hell. I mean, I have a great deal of respect for them. So when I got to Helmsley, it became clear that liquidity was an issue in managing the five percent. And the benefit that we had is that the money came out of MRs Helmsley's estate after the financial crisis was over. So we had the value of her estate that had not been marred by the financial crisis. That gave me an opportunity to talk to all of my peers to understand their lessons learned having come through the financial crisis, and out of that came opportunistic investing. If I was convinced of it before I was really convinced of it now and number two. To that managing liquidity was critical. So we have four liquidity, tears, safe liquid, semi liquid illiquid, and they're defined simply by how quickly we can get the money back because in a crisis, I have to know where I can get money in order to get that money out the door. And then do you have percentages that you scribe to each of those we do, and this percentage of the safe assets category is at twenty percent. The semi liquid is at twenty two percent. The illiquid category is at twenty five percent in the balances in the liquid category. And we put the plan together..
"chief investment officer" Discussed on WIND 560 AM
"Is the chief investment officer of our to capital management my goal is to develop strategies that strive to win for clients while also understanding when risk is elevated and trying to mitigate risks for our clients at certain times coming in first place doesn't mean always taking risks sometimes you win by by knowing when not to take risks understanding mark tendencies i think helps us know which risks are worth taking to expect to pay off and which ones are not were taking because the probabilities of being successful aren't good like for example i think being too aggressive today compared to maybe at a different time is not as good of a trade off because the market's moved up a lot in the last several months it really isn't much different than other things in life that you make decisions on every day for example you don't drive through red lights only green lights when you change lanes you look in your side view mirror i when you cross the street you look both ways you do these things before making decisions i'm simplifying it a bit here but it's the same concept when we make investment decisions before we decide to invest capital management we make sure our market indicators are positive because when they are we know the probabilities of being successful are better than if those same indicators are negative then our probabilities of investing successfully aren't as good so again i'm simplifying it here a little bit but i'm trying to draw a parallel that you use probabilities you use risk management strategies in all walks of life yet you still aim to win in most things that you do why not your investments it's football season.
"chief investment officer" Discussed on BBC Radio 4
"Sakir chief investment officer at clermont bobble snapchat just talking about them was one of the more recent silicon valley companies to go public on the american stock exchange's one that clearly wants to do so is airbnb to cheetah needs to start growing a bit faster the company has just announced a whole range of new ideas at a thanks will make it grow and technology reporter in san francisco good dave lee was the for the announcement dave i think people are pretty familiar with what airbnb off his now what new things it talking about this morning dario for starters they're going to look at higher end accommodation taking on companies like one fine stay which some people might be familiar with more expensive rooms basically an a better hotels and they're also starting to gather certain types of trips purposes of example if your booking a honeymoon you can search for properties that are related perhaps add to that and they're also adding a new parts of the sites could airbnb plus now this is a scheme to inspect property safe air airbnb to inspect properties to make sure that are up to it that they are doing what the appetizing i on the website is climbing those rooms will be like i think that's the most trust in part of this announcement i spoke to at nathan betcha zik who cofounded a beam be about how those inspections might work so we actually have for a long time now a set of contractors who photography for airbnb so as trainers photographers to also do home inspections and they have literally checklist of 100 things north at questions like is the kitchen fullyequipped and you know the comfort of the bed and the speed with a wifi and say what they were down all these all these things so that you as.
"chief investment officer" Discussed on KTTH 770AM
"Chief investment officer at bullwork capital management all right welcome back to the show thank you so much for joining us and we're going to get right into it we are going to continue our interview here with danielle de martino booth author of fed up and one of the only people that i'm aware of that's been both on wall street and inside the federal reserve so danielle thank you so much for joining us and let's let's pick up where we left off so we were talking here we so we're talking about your time at the fed like i said you're one of the few people that straddle both worlds and i think everybody ivy what i experience a lot of clients were tired of talking about all eight or nine i kinda see a bifurcated world it's it's you know the markets and and finance prior to that point and then kind of what were left with here so due to the truncated time that we've got here in try to fit it in the show where does this leave us today what are you see today is everything great are these markets going to the moon or do we still have some big lingering problems here well yes and yes i think the markets are completely unhinged from reality and when you see um that the horse has left a stable it's impossible to say where this is going to stop right we were lower for longer than we've ever been we kept interest rates not just at the zero bound for longer than they had ever fan at such low levels but on top of that we've got this twenty trillion dollar global experimenting quantitative easing so it's if you look at it if if you if you think of it as being a cemetry the idea of symmetry you know this bubble should be bigger because it was propelled by more air um you know i back in october i wrote uh what am i newsletter i wrote three for three for.
"chief investment officer" Discussed on Bloomberg Radio New York
"Time to be buying not selling it's upside down i have a buck who's a fairly wellknown household name he's a hedge fund manager and a value investor and he says all the time he could tell when an underperforming investment is about to pay off first the phone starts to rain then the emails com and then ultimately clients start pulling money out and usually it's at the moment when this underperforming value approach is about to take off yes and it's it's been a it's been an interesting observation just like the pension funds firing people at the nadir of their cycle on most comfortable when everyone else's wringing their hands and as an investor that's just my my personal me that doesn't mean however that i should take that information and trying time the market that would be the wrong conclusion just just holding through the downturns here's the here's another great it you mean you think by low sell high right everybody knows that most people will say they're doing that and then you go back can track their actual numbers they're not doing the most highly favourable thing is much much stronger right it's much easier said than done actually doing it requires you to be comfortable when everybody is mediaeval and and we haven't solved that problem like i can show you statistically this is a problem and bridge bridgelike by the way it's it's true the index are still you can look at vanguards you know biggest index fund data this problem is well we've as an industry we have got to work on this and saw than i think that's the next frontier we have been speaking with john montgomery he is the chairman and chief investment officer of bridge way capital management and if you enjoy this conversation be sure and stick.
"chief investment officer" Discussed on BizTalk Radio
"Chief investment officer lucia capital management i'm impressed mark i've been able to coach yang for the last couple of weeks them they will have on as long as it sailed on some the wind i didn't body last hour 'cause you look pretty darn busy okay all right so but i we've we went in with your that on purpose well i understand i understand i tried doing that wants to fight that he had the empty chair just wouldn't talk uh we're here chief investment officer lucia capital management marks kozel first of all mark were still up around market highs at least for the dow i guess for the s p here's what we question we get when we do get questions on the market and in as well what's going to happen now mark what's going to happen with the markets first of all do you have this kind of an overview as to what you're seeing and what you guys are looking at on the investments side yeah eight it's an interesting time i mean that the dow's been doing really well as we talked about the dow is necessarily you know is that really emblematic of the of the markets in general i mean it's a it's a it's a tight he asked small group very very large companies recently there's been a little bit of momentum coming back into sort of old tech names like ibm believe it or not well i remember them and um you know some some logic that they've been sort of unfavored for such a long time yeah and overlooked for such a long time in maybe there finally turning the corner it's just an example but the been a number of companies like that that have gotten that are very very large that have gotten a lot of additional interest lately yeah even though the fundamental performances finn pretty awful to be honest i think i think it was their thirteen th straight quarter of revenue declines that ibm that ibm immigrant ask it as a stupid yet i think highly relic in question what is ibm to anymore there million they're more i at out i don't know the company in in that much detail they're they're they're much more today you know a.
"chief investment officer" Discussed on KDWN 720AM
"Jaosoa chief investment officer lucia capital management i'm impressed mark i've been able to coach yang for the last couple of weeks and months we will have as long as a deal don't some the wind body last hour 'cause you look pretty darn busy okay all right so but i we we went in with your that on purpose well i understand i understand i tried to doing that once the at the empty chair just wouldn't talk we're here chief investment officer lucia capital management marks gals oh first of all barca were still up around market highs at least for the dow i guess for the sp here's what we question we get when we do get questions on the market and it is well what's going to happen now mark what's going to happen with the markets first of all do you have this kind of an overview as to what you're seeing and what you guys are looking at on the investment side aides it's an interesting time i mean that the dow's been doing really well as we talked about the dow is nearly you know is that really emblematic of of the markets in general i mean it's a it's a it's type small group very very large companies recently there's been a little bit of momentum coming back into sort of old tech names like ibm believe it or not well i remember them and um you know there's some some logic that they've been sort of unfavored for such a long time yeah and overlooked for such a long time and maybe there finally turning the corner just an example by the there's been a number of companies like that that have gotten that are very very large it should have gotten a lot of additional interest lately yeah even though of the fundamental performances been pretty awful to be honest i think i think it was their thirteen straight quarter of revenue declines that idea that ibm immigrant areas i ask you as a stupid yet i think highly relevant question what is ibm do anymore more i mean they're more i made out i don't know the company in in that much detail by they're they're they're much more today you know a.
"chief investment officer" Discussed on BizTalk Radio
"About buckets and strategy of course than investing all manner of planning is what it is an act when it comes down to it's all it's all part of setting up a plan and you got various aspects in that plan you've got you know the the the actual planning the financial planning part of it than he had the implementation part of it and you can look at it as an architect as we said in a builder who actually builds it you can look at it as the as as perhaps a football team you have the coaches that design the plays that the vise the plays and say here's what we have based on we know what the goal is we wanted to work this way with the personnel that we have they work together with the owners to develop the personnel in the players are the ones that i actually have to go out and do it and so all that together was what the you know gets you into your goal which is to win right and so winning in the case of financial planning professor aplomb weight and and this is a this is i think good point the mark's cows our last hours making i think he said something similar to that uh yesterday or the day before our chief investment officer winning isn't about achieving the greatest rate of return and beating the sp 500 or whatever our benchmark is winning is where are you at the ends ended the game that you could take the football analogy a little bit further of the you know it's not the team that could just score score score if they can't stop the other team from scoring either there's the defensive side of the game as well sure and in many respects not losing the game will help you with rather the judge we go back to the chargers the standing of churches in the eighty they could put points on that score with.
"chief investment officer" Discussed on KDWN 720AM
"And strategy of course in investing all manner of planning is what it is and that's what it comes down to it's all it's all part of setting up a plan and you got various aspects in their plan you've got uh you know the the the actual planning the finance joe planning part of it and you had the implementation part of it and you can look at it as an architect as we said in a builder who actually builds it you could look at it as the as as perhaps a football team you have the coaches that design the plays that divides the plays and say here's what we have based on we know what the goal is we want it to work this way with the personnel that we have they work together with the honors to develop the personnel that the players are the ones that i actually have to go out and do it and so all that together was what gets you to your goal which is to win right and so winning in the case of financial planning professor plum white and and this is a this is a good point the bucks cows or less two hours making i think he said something similar to that yesterday or today before our chief investment officer winning isn't about achieving the greatest rate of return and beating the s p 500 or whatever benchmark it is winning is where are you at the ends ended the game you could take their football all of you a little bit further and say you know it's not the team that could just score sore score if they can't stop the other team from scoring either there's a defensive side of the game as well sure and in many respects not losing the game will help you win rather than just we go back to the chargers instead of charges in the 80s they can put points out the score but there's going to stop that's right there in san diego back then worth it but it's i was thinking also if i'm gonna drive from here to phoenix affects the robot's i can stay around the speed limit make my goal of getting there or i can try to drive two hundred miles an hour it get there are a lot faster and get the.
"chief investment officer" Discussed on BizTalk Radio
"An enhanced risk adjusted rate of return or alpha if you will anyway he is the chief investment officer at a got only give out names because somebody is going to go and you know i don't know i don't want to give given a free advertisement oldest call on a very wellknown lot of advertising on television and so forth the robo adviser now the robo advisable to interesting phenomenon robo meaning its robot meaning there's no people actually managing the money meaning is like an index fun with asset allocation automatic rebalancing and they do at dirt cheap and because they do it their cheap they would good contend that bad they beat the average active moneymanager because indexing at least in the recent past the beaten active money managers now you've heard me debunked that to a certain extent with those active managers that eat their own cooking and that have low fees and so far there have been studies on both sides of this this argument which is why i feel strongly both ways right to pretty safe position to take but it's actually the right and the real position to take but is changing views is really interesting they're calling it passive plus indexing why passive plus indexing hm the strategy is another name for smart beta you may be a little more familiar in the business you're a little more familiar with smart beta which is factor driving into another name for example for active deviations from market cap waiting hours when you buying index like the sp five hundred or whatever wilshire you're you're you're buying a market capitalisation waited an index of socks so apple gets the lion's share of the money in any all the other in the fang stocks are dominating if you will the end axis solve the fat jiang's if they expensive stocks get more expensive win if the expenses stocks go down you lose so far the expensive ones winning has been winning winning anyway big change in views for bird malki l a very big change in views and you know he he sits in on board positions on a lot of different companies to and he's made comments on written books and all this stuff and so it's it's somewhat shocking to.