In part 2 of our exclusive interview with Wall Street’s number one economist Ed Hyman, and top global investor Matthew McLennan we look at the dramatic financial changes occurring around the world and what they mean for business and investors.
WEALTHTRACK Episode #1330; Originally Broadcast on January 13, 2017
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- Guest Info
- Action Point
- One Investment
- Stock Mentions
- Video Archive
- Web Extra
- Chairman, Founder,
- Evercore ISI
- Head of Global Value Team, Portfolio Manager,
- First Eagle Investment Management
We always pair Hyman with a top ranked money manager. This week he is again joined by Matthew McLennan, Head of the Global Value team at First Eagle Investment Management, and portfolio manager of the five Star rated First Eagle Global fund, which he has run since 2008.
The two know and respect each other and bring different perspectives to the table. Hyman is an optimist by nature and reads numerous economic tea leaves on a daily basis. McLennan is a patient value investor who focuses on identifying risks to avoid what he calls the “long-term impairment of capital. Together they bring a balanced view to the global outlook.
Last week we covered the conditions in the U.S. for 2017. In case you missed it, Hyman is encouraged by the pickup in strength and confidence in the economy and markets and believes a recession is years away. McLennan identifies the risks he sees developing, particularly excessive fiscal stimulus and the high levels of debt and stock prices and shares how he is protecting his portfolios from any repercussions.
This week we are broadening the discussion to include the rest of the world. Hyman and his research team at Evercore ISI are seeing increasing evidence that global growth is accelerating. He will discuss the major drivers. McLennan will describe the vulnerabilities he sees and where he is able to find rare pockets of value.
Both men are voracious readers. In the EXTRA feature on our website, they will share their latest book recommendations.
If you miss the show on air this week, you can always catch it later on our website. Feel free to also view last week’s exclusive episode there as well. You can also view all of our episodes and clips on our YouTube channel.
Have a great weekend and make the week ahead a profitable and productive one!
CONSIDER MCLENNAN’S PHILOSOPHY OF PATIENT CAPITAL
No Bookshelf titles this week.
HYMAN: FAVORITE FOREIGN MARKET
Buy Japanese stocks
- Economy and stock market are improving
- WisdomTree Japan Hedged Equities ETF (DXJ)
- DXJ stock price ($50.47) and 52-week range ($37.05-51.81) (As of 1/11/17)
MCLENNAN: FACTORY AUTOMATION LEADER
- Buy Fanuc Corporation ADR PINX (FANUY)
- FANUY price ($17.28) and 52-week range ($12.93-19.00) (As of 1/11/17)
Matthew McLennan from the WEALTHTRACK archives:
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VORACIOUS READERS’ FAVORITE BOOKS
A key contributor to the professional success of economist Ed Hyman and portfolio manager Matt McLennan is their voracious reading habit. They both have eclectic interests and don’t limit their lists to finance. We asked them to recommend some recent favorites.