15 FEARS FOR THE GLOBAL PORTFOLIO MANAGER
Jeff Saut of Raymond James recently visited with portfolio managers in Europe to discuss their global outlook. During the discussions he noted a particular gloom. He asked 15 various managers what they see as their largest fear in the markets:
“The responses went like this: 1) fund managers that only use mutual funds and exchange trade funds (ETFs); 2) investing is practiced in a too complicated a fashion when it should be easy; 3) a military coup in Greece; 4) inflation goes down instead of up; 5) China sells half of its Treasury Bonds; 6) Europe and the U.K. don’t tackle their pension problems; 7) there is blood in the street, but the markets trade higher;
most of the unemployed are un-hirable; 9) the EU doesn’t stay together; 10) water; 11) I used to worry about Ireland, but I don’t anymore (now that’s funny); 12) over regulation; 13) if the EU breaks up, what happens to the boom in German exports; 14) the fact that only 11 residents in Greece declared annual incomes of one million Euros or more; and the best – everyone is so negative that when the blue skies arrive they will be ignored.”
It always good to note those loose stones that could cause us to lose our way on the trek to the top of the investment mountain. Even if they aren’t really that loose (e.g. – “China sells half of its Treasury Bonds”).
Source: Raymond James
I like the Irish Joke – I guess he realises that we have accepted the concept of massive deposit extraction to pay for sovergin debt that has exploded to prevent delicate shadow bank bonds from imploding.
Our banks might as well be safety deposit boxes that are not very safe from the hands of its security.
There are only 13 points and not 15 fears. Or should it be fears of 15 PM??
Forgive me. There are 15 points after all. Some of the numbers turned into smilies….
Cullen,
I don’t understand worry 1). Can you please explain why people are worried about fund managers only using ETFs and mutual funds?
Thanks,