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Markets today European governments are signaling that.
They are making progress on a bailout for Greece this set for Wednesday and Thursday saw bloody violent riots on the streets of happens.
And then a government -- My next guest says the situation in Greece is nothing but a short term speed bump for American investors but.
How do you drive around -- Eric -- is here at the driver's seat here is an investment advisor -- -- trust four billion dollars in assets under management.
We keep saying.
That Greece isn't an issue Eric except that it really hit the markets hard this past week and it did a year ago in -- which caused some would say part of the flash crash.
That's right almost exactly a year ago we've been talking about Greece now and out.
You know it's a very serious situation and everybody knows that even though it's a small percentage of the Euro zone's GDP.
It could have ripple effects on the rest of the European economies and then possibly back to our.
Economy here so we have to be really careful of is to watch very closely in terms of what kind of bail -- package might be proposed.
Even today as you mentioned they're talking about some good things and I think it's very highly doubtful that Europe -- and Germany in some of the stronger nations will let.
-- -- -- -- -- -- So we can't deny that the turmoil affects US march markets but you're saying it's a short term shake so to speak -- that you can still invest around it yes absolutely it's providing a good buying opportunity it's a huge overhang for the markets right now.
But if you can go and realize that there is going to be a solution of the problem.
There is a good chance to get -- stocks here at these levels you know over the next few weeks as we get a solution to -- to the dilemma right now let's bring it back stateside how much consideration should investors be -- to what's going on in Washington we haven't heard too much about.
The drama raising the debt ceiling but that nightmare has gone away -- Washington is is having a lot of trouble figuring out what to do that the deficit problem is obviously a huge huge problem.
And we need to start learning from countries like Australia where there GDP.
That debt level to GDP is about 6% and you know that's an amazing balance sheet our country needs to figure out what to do.
We can't have any more band aid solutions for -- we need to come through some sort of major overhaul package I think congress is very aware of the problem.
I think they're gonna work on it and I think -- -- have a solution here at some point before the end of the year it may not be it may take some time for the flowed through the system.
But I think we'll have some good answers and that again will we look back and -- it's a good buying opportunity we -- -- as you invest for your clients and you do have some wealthy -- certainly you've got four billion in assets under management.
Let's start was sectors what regions of the market it to you like.
Well we are believers that this economic recovery is happening even though it's gonna take longer than a lot of investors would hope for.
So we tend -- like the more economically sensitive sectors we like technology.
We like the industrials their building the infrastructure to -- -- -- -- likely be economically sensitive parts but at for example I was just reading as we were delving into Nvidia which is a very high end graphic chipmaker.
That summer tends to be a tough time -- -- -- The economically sensitive atmosphere and you still say that's topic going to technology.
-- this is now ready you know some years he had at some years you don't we tend not to invest that way we like to see.
Value of the ideas were investing and so we think it's still located be investing in those parts of the market.
The industrials -- -- really talking about an international infrastructure being built out there that's very exciting from investor standpoint and technology.
Businesses are gonna continue to spend on their systems -- they don't have to hire back all the employees that they lost originally that's a problem for the unemployment numbers.
But it's actually a good thing for corporate profits let's look at the markets right now -- because at the moment.
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