Ed Hyman & Dennis Stattman – Part One: Experts Say…

January 11, 2013

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WEALTHTRACK’s annual exclusive with Financial Thought Leader, Ed Hyman, Wall Street’s number one ranked economist and BlackRock’s star Global Allocation Fund manager, Great Investor Dennis Stattman. They will assess the U.S. economy, markets and investment opportunities for 2013.

WEALTHTRACK Episode #929; Originally Broadcast on January 11, 2013

Listen to the audio only version here:
Ed Hyman & Dennis Stattman – Part One

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Guest Info

Ed Hyman
Chairman, Founder
ISI Group

Dennis Stattman
Portfolio Manager
BlackRock Global Allocation Fund

Newsletter

Consuelo MackEvery year at this time we are delighted to have an exclusive television interview with ISI Group’s co-founder and Chairman, Ed Hyman. Ed has been Wall Street’s number one ranked economist for an unprecedented 33 years running. ISI’s daily research reports are considered to be must reads by institutional investors and Ed’s annual outlook on WEALTHTRACK is a must see.

We also always ask a Great Investor to join the conversation as well, to discuss investment strategy. This year we are welcoming back Dennis Stattman, long-time portfolio manager of BlackRock’s Global Allocation Fund, a Morningstar favorite.

Ed and Dennis are such a powerhouse combination that we asked them to sit down for an extended interview. Part I will run this weekend, Part II next. We will cover everything from the unexpectedly strong global market performance last year, to the major macro themes they think will make a big difference to the economy and markets this year, to the three emerging developments they view as game changers for investors in the months and years ahead. Be prepared to take notes!

To get a sense of where we are heading it is important to understand where we have been. As ISI’s research team told clients recently, “…2012 (was) better than it felt… stock markets were strong around the world, with strength in particular in many (emerging markets) EMs.”

Looking back the results are pretty amazing. World stock markets and the S&P 500 both up 13%, Japan up 23%, India 26%, Germany 29%, Greece- you heard it right- Greece, the Philippines and Thailand all ahead more than 30%, and Turkey more than 50%! The bond markets put in a credible performance as well. Even much maligned U.S. Treasuries made money. The 10-year note, for instance, beat inflation with a better than 4% gain. High yield bonds and corporate debt shone with double digit equity-like returns.

For the most part these very positive results were a big surprise. As Bloomberg reported, “almost all of Wall Street got 2012 market calls wrong.” So did some of the world’s savviest investors, including hedge fund manager John Paulson, who called for a collapse in Europe and Warren Buffett, who warned against the folly of bonds. Neither of those gentlemen purports to be a market prognosticator. Their job is to make clients and shareholders money and they are very good at doing that over time.

Our mission at WEALTHTRACK is to help you do the same, which is why we always ask Ed Hyman to explain the economic climate at the beginning of each year and why we asked Dennis Stattman to guide us on strategy. I’ll begin the interview by asking them about the lessons of 2012- why did so many investors miss the market’s strong performance?

As always, if you can’t join us at the appointed hour on your local public television station, you can watch the show on our website as a podcast or streaming video. You can also find the One Investment picks of our guests and my Action Points there. For those of you who would like to see our program 48 hours in advance of the broadcast, including next week’s interview with Ed Hyman and Dennis Stattman, you can subscribe to our WEALTHTRACK PREMIUM subscription service on the website.

We hope you have a great weekend. Make the week ahead a profitable and a productive one!

Best regards,

Consuelo
Mathews Asia

Action Point

One Investment

HYMAN: GLOBAL GROWTH

Caterpillar (CAT)

Price: $95.19 on 1/11/13

52-week range: $78.25 – $116.95

CAT Chart

CAT data by YCharts

STATTMAN: SUPERIOR GROWTH PROSPECTS

Total SA ADR (TOT)

Price: $52.88 on 1/11/13

52-week range: $41.75 – $57.06

TOT Chart

TOT data by YCharts

Transcript

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Archive

January 6, 2012
An exclusive interview with Wall Street’s long time number one economist Ed Hyman and Great Investor Bob Doll. What they expect in the economy and markets in 2012 and strategies to prosper in it.

January 18, 2009
Three of Wall Street’s savviest investment pros discuss their outlook for the economy and markets and share the investment strategies they are employing for their clients and themselves. In a television exclusive, Consuelo will be joined by ISI Group’s Ed Hyman, Wall Street’s number one ranked economist for an incredible 29 years running. The other two guests are Bob Doll, the highly-respected head of global equities for BlackRock, plus the man many call the “bond” king, Bill Gross, Co-CIO of bond giant PIMCO.


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