Summit Notebook

Exclusive outtakes from industry leaders

Audio-North Korea, Iran lead investor’s fears

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The North Korean and Iranian nuclear threats, the conflict in the Middle East and the impact on China’s neighbors from its growing role in the world stage are geo-political events that will affect global investments, says Reiner Triltsch, head of International Investments at U.S. Trust.

Speaking at the Reuters Investment Outlook Summit, Triltsch, however, said developments in Russia would not have any significant impact as it had weakened militarily.

Audio – Risk is dead…not

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Eaton Vance muni bond manager Tom Metzold discusses the potential for a market correction triggered by little understood risks in the lightly regulated credit derivatives market.

metzold.jpg“Whether it is in the credit default swap market or a leveraged buyout scenario, there is going to be a major default and all this liquidity that is out there can dry up pretty quickly,” Metzold said.

Audio-Shorting stocks is harder now, says manager

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shawn-pix.jpg Shawn Kravetz, president of Esplanade Capital, says shorting stocks has become harder than ever because you never know where private equity players will pop up next and blow the bets out of the water.

 ”Private equity and the perception of the bogeyman thereof  have created a floor for a lot of these stocks,” Kravetz told the Reuters Investment Outlook Summit.

Audio – International equities manager likes Japan

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reiner-pix.jpgReiner Triltsch, head of International Investments at U.S. Trust, is bullish on Japan because of a view that quality firms can be found in the world’s second largest economy and because valuations there are attractive.
     Triltsch spoke at the Reuters Investment Outlook Summit. His Excelsior International fund owns many Japanese firms among its top holdings, including Sumitomo Trust & Banking and Canon. 
   

Audio – Handicapping the Fed’s moves in ’07

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patel.jpg    There is a 50-50 chance the Fed will raise interest rates towards the end of next year, forecasts Pioneer Investment Management portfolio manager Margaret Patel, voicing what is a something of a contrarian view to the market consensus.
    “There is tougher talk on inflation” coming out of the Fed, she said.  For the rest of the summit, click here.

Audio – Hang a lamb’s head, but sell dog meat

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siris.jpgGuerrilla Capital Management Chief Investment Officer Peter Siris gives a colorful, if not appetizing, description of the risks of investing in Chinese companies listing outside of China.

To see all of our summits coverage, click here

Audio – Bill Gross on everything from the Fed to his makeover

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gross.jpg

Bill Gross, the manager of the world’s largest bond fund, chatted with reporters at the Investment Outlook Summit about everything from the dollar to interest rates to how he shaved his mustache to try to look younger (the picture here is before he put razor to lip). Listen to the entire interview.
 

To see the reportage from the summit, click here

 

Audio – What’s the outlook for 2007?

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mcallister11.jpg“Next year, I think things will be probably pretty good in the market,” says Legg Mason fund manager Mark McAllister, when asked about US earnings growth.

Read the rest of the summit coverage here

Audio – Real estate fund manager Winer sees opportunities in HK

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hk.jpgMichael Winer, portfolio manager of the Third Avenue Real Estate Fund, says that Hong Kong is where the fund is finding the most opportunities for investment.

“Hong Kong is where we’re putting more dollars to work than anywhere right now,” he said. 

Audio – Complications abound

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mcallister1.jpgEmerging markets, the US regulatory environment, new technologies and mergers are factors that won’t let business keep it simple, says Legg Mason fund manager Mark McAllister.

“I’m not sure that companies themselves have gotten more complex, in terms of they’ve deliberately courted complexity, I think they’ve had to respond to the market and the environment around them and react accordingly,” he said.

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