According to today’s NY Times, one of the world’s savviest investors is once again taking a contrarian view, and this time its Europe.
While Wall Street is continuing to wave a yellow flag whenever investing in European markets is discussed (after all, the widely-advertised risk of “Greece contagion” remains at the forefront of most institutional investors minds), Marc Lasry, founder and head of hedge fund Avenue Capital is decidedly color-blind, albeit perhaps with the exception of Spain and Italy.
Even though Lasry’s firm specializes in taking stakes in the distressed debt of individual companies, his macro outlook is worth considering by those whose investment style focus on specific sectors via use of ETPs.
“Europe isn’t going away, and the companies aren’t going away,” Mr. Lasry said. “You can never time a bottom. What you can do is a time a cycle and five years from now, people will say, ‘Why didn’t I buy?’ ”
There is a broad list of Euro-market ETFs, but because this publication does not recommend the purchase or sale of any securities, savvy investors need to pick and choose to determine which products best meet their investing goals and horizons.