Howard Ward, a portfolio manager at Gamco Investors joined Bloomberg yesterday to discuss his outlook for the markets and the economy. Ward is very optimistic. His bullish thesis is based on the following:
- Recent jobs report gives the Fed an excuse to implement QE3
- Don’t fight the Fed
- We have 39 months of economic growth
- Payrolls are still growing
- Corporate profits are at record highs
- The US consumer doesn’t care about global macro fears
- The low interest rate environment forces investors into equities
- Institutions and pension funds have to reallocate towards stocks
- Despite all the positive catalysts investors remain too bearish
Ward’s biggest position and most bullish position – this one’s a stunner: Apple Inc.
See the full interview below:
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.
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