Top mutual fund manager Steven Romick says he’s “maintaining the status quo” with his portfolio, because he isn’t seeing many enticing opportunities right now. Romick tells Tom Keene on Bloomberg Television’s “Surveillance Midday” that he thinks the market is “not inexpensive” right now, and says he sees a lot of risk to earnings — particularly all-time [...]
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Bond Guru: “Absolutely No Reason” to Own High-Rated Short-Term Bonds
May 17, 2012
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Top bond fund manager Jeffrey Gundlach says investors should steer completely clear of high-rated bonds with maturities of three years or less — and perhaps even longer. “There is absolutely no reason to own any investment-grade bonds inside of three years for sure,” Gundlach said on Bloomberg Television’s “Surveillance Midday” with Tom Keene. “And maybe [...]
Read moreEinhorn Ups Bullish Bets, But Warns on Inflation
May 1, 2012
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Hedge fund guru David Einhorn says he increased his bullish bets last month, but remains concerned about several issues, including the Federal Reserve’s low-interest rate policy. In a conference call with Greenlight Capital Re investors, Einhorn said that he increased his bullish positions thanks to better-than-expected corporate earnings results, Bloomberg reports. But, he added, “This [...]
Read moreGrantham on Incredibly Irrational Markets
April 27, 2012
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In his latest quarterly letter, GMO’s Jeremy Grantham offers some very interesting data on the disconnect between the stock market on one hand, and the economy and “fair value” of the stock market on the other. “This difference is massive — two-thirds of the time annual GDP growth and annual change in the fair value [...]
Read moreThe Downdraft vs. The Flood
April 19, 2012
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Investor sentiment has been on the rise for much of 2012, but Blackstone’s Byron Wien says it may not necessarily be the contrarian indicator it usually is. In a piece for Gulf News, Wien discusses various improvements in the U.S. economy. He also says things have improved in Europe, with policymakers now “emulating the US [...]
Read morePaulsen likes EMs, Industrials, Financials
April 19, 2012
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Wells Capital’s James Paulsen says he thinks investors would be wise to look at stocks in the emerging market, industrial, and financial areas of the market. In a radio interview, Paulsen told MarketWatch’s Larry Kofsky that he thinks a resurgence in emerging market growth and growing confidence in the U.S. make those areas attractive right [...]
Read moreTop Bond Managers Look for More QE
April 18, 2012
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Three top bond fund manager says that a weakening U.S. economy will lead the Federal Reserve to enact “QE3″ — another round of quantitative easing — and they are positioning their portfolios accordingly. “I just don’t think that we have a healthy fundamental foundation for the economy and therefore surprises are likely to be on [...]
Read moreShiller on Why Housing Isn’t a Great Investment
April 13, 2012
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Yale Economist Robert Shiller famously called the housing bubble that led to the Great Recession and financial crisis. And in a recent interview with Brian Richards on The Motley Fool, he talked about how the myth of housing being a “great investment” came into being — and why it’s a myth.
Read moreHerro on the Bond/Stock See-Saw
April 13, 2012
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Oakmark’s David Herro, a Morningstar Fund Manager of the Decade, says that while investors have been loading into bonds in recent years, he’s beginning to see a shift back toward stocks. “At some point, and I think we’re already starting to see some investors budging, you will see movement out of bonds and into equities, [...]
Read moreGoldman: Equities Cheapest vs. Bonds in a Generation
March 23, 2012
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In a new report, Goldman Sachs says that stocks are as attractive compared to bonds as they’ve been at any time in the last generation, and that investors would be wise to shun bonds and focus on equities. “Given current valuations, we think it’s time to say a ‘long good bye’ to bonds, and embrace [...]
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