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Video Transcription - Page 2
"Commodities Are a Flight to Quality"
Host 1: We’ll talk about this new money by coming up more in just a bit Todd
Everts CEO at Wall Street Global from our studios live up in Hong Kong.
(commercial break)
Host 1: You’re back with Squawk Box Asia Thursday morning we are back with Todd Everts CEO at Wall Street Global staying with us from our studios live up in Hong Kong. Todd, you left off here talking about optimistic because there is new fresh money coming in to markets whether it’s equities or private equity or VC (venture capital) and what’s good about this is, this is largely unlevered money yet you’re saying we can only look forward to more bearish data coming out in the near future. Why therefore is this money going back in?
Todd G. Everts: Well, this money doesn’t have an alternative. This money’s alternative is cash and this cash is set in the sidelines. When you talk about new money it’s money that’s in the market in the past, it’s money that was liquidated from the market at a previous point which is probably at a loss from the highs but is now re-entering the market because you can’t catch a falling knife, you cannot find the absolute low the person that can perfect.. that is probably Bernie Madoff and that just doesn’t occur so people are now seeing a resilience in the market, they’re coming back in to the market in slow steps but they’re coming in an unlevered fashion because the banks haven’t come back and provide little lines of credits that were there last September, last October definitely a year ago. So it’s encouraging to see that. At the same time the resilience is the fact that they already know and they can anticipate we’re going to have a negative earnings in the US, consumer spending is not going to be back where it was, we’re still going to continue to have a trade surplus and the future of the US dollar versus other currency is uncertain.
Host 2: Todd when you look at indicators that signal return to confidence how encouraging is it for you that we have seen quite a significant bounce back in the commodity markets granted they haven’t touched on the all time highs, revisited the high we saw last year, but how encouraging over all is it for you?
Todd G. Everts: I think it’s encouraging and when everyone talks about flight to quality they talk about going to the US dollar, they talk about going to gold…but I think that many investors have decided that commodities is a flight to quality and I think it’s a smart bet over the long term because people need to consume these commodities and the commodity providers will continue to provide that element and there’s an opportunity to make a profit and get an equity-like return over other types of instruments albeit equities or other asset classes so I’m encouraged by commodity prices improving because of the simple fact that people need to consume these commodities whether it’s specific to manufacturing that equates in to the US consumer or it’s actually something that’s consumed. Commodities is a flight to quality.
Host 1: Okay, great to talk to you sir. Thanks for the times. Todd Everts, CEO at Wall Street Global joining us live from our studios up in Hong Kong.
(commercial break)
Host 1: You’re back with Squawk Box Asia Thursday morning we are back with Todd Everts CEO at Wall Street Global staying with us from our studios live up in Hong Kong. Todd, you left off here talking about optimistic because there is new fresh money coming in to markets whether it’s equities or private equity or VC (venture capital) and what’s good about this is, this is largely unlevered money yet you’re saying we can only look forward to more bearish data coming out in the near future. Why therefore is this money going back in?
Todd G. Everts: Well, this money doesn’t have an alternative. This money’s alternative is cash and this cash is set in the sidelines. When you talk about new money it’s money that’s in the market in the past, it’s money that was liquidated from the market at a previous point which is probably at a loss from the highs but is now re-entering the market because you can’t catch a falling knife, you cannot find the absolute low the person that can perfect.. that is probably Bernie Madoff and that just doesn’t occur so people are now seeing a resilience in the market, they’re coming back in to the market in slow steps but they’re coming in an unlevered fashion because the banks haven’t come back and provide little lines of credits that were there last September, last October definitely a year ago. So it’s encouraging to see that. At the same time the resilience is the fact that they already know and they can anticipate we’re going to have a negative earnings in the US, consumer spending is not going to be back where it was, we’re still going to continue to have a trade surplus and the future of the US dollar versus other currency is uncertain.
Host 2: Todd when you look at indicators that signal return to confidence how encouraging is it for you that we have seen quite a significant bounce back in the commodity markets granted they haven’t touched on the all time highs, revisited the high we saw last year, but how encouraging over all is it for you?
Todd G. Everts: I think it’s encouraging and when everyone talks about flight to quality they talk about going to the US dollar, they talk about going to gold…but I think that many investors have decided that commodities is a flight to quality and I think it’s a smart bet over the long term because people need to consume these commodities and the commodity providers will continue to provide that element and there’s an opportunity to make a profit and get an equity-like return over other types of instruments albeit equities or other asset classes so I’m encouraged by commodity prices improving because of the simple fact that people need to consume these commodities whether it’s specific to manufacturing that equates in to the US consumer or it’s actually something that’s consumed. Commodities is a flight to quality.
Host 1: Okay, great to talk to you sir. Thanks for the times. Todd Everts, CEO at Wall Street Global joining us live from our studios up in Hong Kong.
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