POSITIVE 2020 OUTLOOK FOR US ECONOMY SAYS WALL STREET’S #1 ECONOMIST ED HYMAN

December 20, 2019

Every year at this time we are delighted to welcome Wall Street’s long reigning number one economist, Ed Hyman to share his outlook with us.  And we always pair him with a leading portfolio manager with a global investment view. For the fourth year in a row our choice is First Eagle’s Matthew McLennan.

In the first of this two-part series on the Outlook for 2020 our focus is on the U.S.

Last year Hyman correctly forecast the now record-breaking economic recovery would continue and that a recession was several years away. We’ll find out what his view is now and get McLennan’s assessment of the U.S. markets.
 
Ed Hyman is a Wall Street legend. Vice Chairman of Evercore, a leading independent investment banking and advisory firm, Hyman is the Founder and Chairman of its Evercore ISI division and leads its economic research team. He has been voted Wall Street’s Number One Economist for an unprecedented 39 years in Institutional Investor’s annual survey. No one else comes even close to that record.

Matthew McLennan, a noted global value manager is Head of the Global Value Team at First Eagle Investment Management where he oversees more than ninety billion dollars in assets, including several funds. His flagship First Eagle Global Fund which he inherited from legendary value investor Jean-Marie Eveillard in 2008 carries Morningstar’s Five Star and Bronze Medalist Analyst ratings and has outperformed  both its World Stock Index and World Allocation category since its 1979 inception.

WEALTHTRACK Episode #1625; Originally Broadcast on December 20, 2019

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ED HYMAN

  • Founder, Chairman, Head of Economic Research,
  • Evercore ISI

MATTHEW MCCLENNAN

Consuelo Mack

Every year at this time we are delighted to welcome Wall Street’s long reigning number one economist, Ed Hyman to share his outlook with us.  And we always pair him with a leading portfolio manager with a global investment view. For the fourth year in a row our choice is First Eagle’s Matthew McLennan.

Ed Hyman is a Wall Street legend. Vice Chairman of Evercore, a leading independent investment banking and advisory firm, Hyman is the Founder and Chairman of its Evercore ISI division and leads its economic research team. He has been voted Wall Street’s Number One Economist for an unprecedented 39 years in Institutional Investor’s annual survey. No one else comes even close to that record.

Matthew McLennan, a noted global value manager is Head of the Global Value Team at First Eagle Investment Management where he oversees more than ninety billion dollars in assets, including several funds. His flagship First Eagle Global Fund which he inherited from legendary value investor Jean-Marie Eveillard in 2008 carries Morningstar’s Five Star and Bronze Medalist Analyst ratings and has outperformed  both its World Stock Index and World Allocation category since its 1979 inception.

In the first of this two-part series on the Outlook for 2020 our focus is on the U.S. Last year Hyman correctly forecast the now record-breaking economic recovery would continue and that a recession was several years away. We’ll find out what his view is now and get McLennan’s assessment of the U.S. markets.

In this week’s exclusive EXTRA feature on WEALTHTRACK.com, Hyman and McLennan share their book recommendations for the new year.

Remember you can also watch the program on our website over the weekend, or find the WEALTHTRACK podcast on TuneInStitcher and SoundCloud, as well as iTunes and Spotify,

We wish you a Merry Christmas holiday, a happy start to Hanukkah, and of course want you to make the week ahead a profitable and a productive one!

Best regards,

Consuelo Mathews Asia

READ: “MORE FROM LESS: THE SURPRISING STORY OF HOW WE LEARNED TO PROSPER USING FEWER RESOURCES – AND WHAT HAPPENS NEXT” BY ANDREW MCAFEE

Andrew McAfee Co-Founder & Co-Director, The Initiative on the Digital Economy & a Principal Research Scientist, MIT Sloan School of Management – Studies how digital technologies are changing the world

MORE FROM LESS

  • Americans consume less steel, aluminum, copper, fertilizer, water, timber & paper while GDP and agricultural production have soared
  • U.S. accounts for 25% world economic output but less than 1% of ocean trash. China accounts for 15% of world GDP but 28% of ocean trash

HYMAN: GROWING PAYMENTS

  • Buy Fidelity National Information Services, Inc. (FIS)
  • Price: $137.84 (as of 12/17/19)
  • 52-week range: $94.53 – $141.35

MCLENNAN: SOUND INVESTMENTS

  • Substantial holdings in First Eagle Global Value portfolios
  • Exxon Mobil (XOM): successfully positioning for long-term
  • Colgate-Palmolive (CL): global toothpaste dominance
  • Oracle (ORCL): dominant in high-end relational databases
No stock mentions in this episode.
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Ed Hymann & Matthew McLennan from the WEALTHTRACK Archives: If the archive episodes do not appear here, please turn off, or whitelist this site, in your ad blocker extension, or allow javascript.

FAVORITE BOOKS

WEALTHTRACK guests, Ed Hyman and Matt McLennan are voracious readers with wide ranging interests. Each shares some book recommendations with us for the new year. Links to the listed books are available under the “BOOKSHELF” tab above.


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