The Milken Institute seems like a very interesting place to be every year, with all the roundtables and big hitters coming together to discuss the big issues of the globe – financial or otherwise. Seems a bit less stuffy than Davos (with a far lower entry fee!) Earlier in the week I posted an investor letter from our favorite pundit Hugh Hendry … but I bemoaned it was in the written word versus video. Well as luck should have it, Hugh was part of a roundtable discussion on the prospects for Europe. Keep in mind this is a guy who identified the disaster that was Iceland before anyone else so he is not just an acerbic loud mouth.
This is roughly a 1 hour video – I have yet to make my way through it but some friends in the twitterspehre say "Hugh is being Hugh" so I'll get to it this weekend.
It's nothing but bad press for Europe these days, and many investors have headed for the exits. But does that mean it's actually a moment for contrarians to jump in? Several sectors are continuing to perform well, especially in exports to outside the region. And many companies (and even countries) have seen price distortions in their stocks and debt offerings that could create valuable opportunities. Where are the right places to invest in Europe, and what are the remaining hidden dangers? Which countries are best positioned to buck the trend and maintain positive economic growth? Which sectors are best insulated from the uncertainty?
Wolfgang Alkier, Co-Founder and Managing Director, Absolute Return Consulting GmbH
Francesca Carega, Co-Head, Absolute Return and Buyouts, Wellcome Trust
Bernard Connolly, CEO, Connolly Insight LP
Hugh Hendry, Chief Investment Officer and Co-Founder, Eclectica Asset Management
James Zelter, Managing Partner, Apollo Capital Management; CEO, Apollo Investment Corp.
Liam Kennedy, Editor, Investments & Pensions Europe
Any securities mentioned on this page are not held by the author in his personal portfolio. Securities mentioned may or may not be held by the author in the mutual fund he manages, the Paladin Long Short Fund (PALFX). For a list of the aforementioned fund's holdings at the end of the prior quarter, visit the Paladin Funds website at http://www.paladinfunds.com/holdings/blog