Jay Pelosky, co-founder and CIO of TPW Asset Management, is bullish on Europe, and is especially optimistic about European financials in particular. In this interview with Brian Price, Jay highlights an especially attractive ETF that he says will be driven higher by second-half growth recovery in the region.
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Filmed on August 9, 2018.
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Finding European Opportunities (w/Jay Pelosky) | Trade Ideas | Real Vision™
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Transcript:
Transcript: I don't know what's light from you but I keep getting phone calls particularly from what I would call some of my high net-worth group who and sort of family offices guys like saying if you look at the relative value of emerging markets he's bloody fantastic when should I buy Julian and I'm like this is not a correction yet if you look at IEM when we're down 20 percent typical correction is 30 to 60 so for making the market that's interesting in the end of all of this India one of the great macro stories there is some imbalances the currency is gonna weaken you know maybe rates will rise for a bit but after that you know the future of the economy I think is great so yes there's going to be opportunities but you know we've got a lot to work through the key question is is can the u.s. remain immune there is a sub negative that we've talked about both of us have talked about on macro in scholars for some time now is there is an issue with these tech stocks there's an issue with Google and Facebook with its use of data that can be something that spills into others and then there's an issue with many others going kind of you know hyperbolic in nature now or parabolic in nature and so that those are the things where I think suddenly you'll have the wily coyote moments if you're not careful but that's the last year to drop it's gonna be first but really as you said we're now seeing emerging market equity weakness which is a significant change I mean reached big weakness let's see if that knocked through to Europe and the European banks if that happens then there's no chance the u.s. can stand on its own you you
