This week on Consuelo Mack WealthTrack three outstanding financial world figures: Bob Doll runs three large cap funds at BlackRock; John Montgomery heads up a family of funds using computer models at Bridgeway Capital; Tom Petrie, Vice Chairman of Bank of America – Merrill Lynch, is a veteran observer of the energy sector.
WEALTHTRACK Episode #515; Originally Broadcast on October 09, 2009
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Vice Chairman, Global Chief Investment Officer for Equities,
Bridgeway Capital Management
Bank of America Merrill Lynch
Has the opening shot been fired? Has the great stimulus withdrawal begun?
That is the question heard in financial markets round the world this week as
Australia’s central bank became the first of the group of 20 major developed
countries to raise interest rates after more than a year of global
The Australian Reserve Bank’s explanation that “The risk of serious economic
contraction in Australia now having passed…” raises questions about when
other countries will hike their rates. Likely candidates are commodity-based
economies like Brazil that are recovering swiftly and Asian countries like
South Korea, China and Indonesia, which are leading the world rebound.
Gold has been a beneficiary of the pick up in global activity. This week it
hit a new record, closing at $1,062.70 an ounce today. The precious metal is
up nearly 20% so far this year. Meanwhile oil, which closed at $71.65 a
barrel this afternoon in New York, has appreciated about 60% year-to-date.
According to this week’s guest, energy analyst Tom Petrie, the long term
trend for black gold is considerably higher.
And what about stock prices? Third quarter earnings reports are starting.
Alcoa led the pack this week with an unexpected profit for the third
quarter. What’s the outlook, especially considering the market’s recent
meteoric rise? The S&P 500, which as of today has advanced for four straight
sessions, has rocketed 57% from the March lows.
How soon are global interest rates going to rise? What’s the prognosis for
the economy, earnings and oil and where is there money to be made in the
markets? This week on WealthTrack we’ll put those questions to our three
Bob Doll is the Vice Chairman and Global Chief Investment Officer, Equities,
at BlackRock. Bob is also a respected money manager who runs three
different large-cap funds for BlackRock: Core, Growth and Value.
John Montgomery is the founder and director of Bridgeway Capital Management,
which manages a family of mutual funds using computer models and
quantitative methods. John manages 10 of the 11 funds and has compiled a
top-notch performance record since the firm’s launch in 1993.
Tom Petrie is one of the savviest oil and gas analysts and advisors in the
business. Tom’s longtime research and investment banking firm Petrie Parkman
was bought a few years ago by Merrill Lynch and he is now a Vice Chairman of
Bank of America Merrill Lynch.
All of our guests will share their “One Investment” recommendation for a
long term diversified portfolio. And in my action point I’ll pick up on
some of their suggestions.
Thanks for watching and make the week ahead a profitable and a productive
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