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WBI Investments CEO Don Schreiber on the economic outlook and its impact on the markets.
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This idea to about the headline north to get back to tracking the fundamentals that's the investing advice from Don Shriver he's the CEO and founder of WBI investments -- For nearly a billion dollars in assets under management.
-- with us in a Fox Business exclusive and you also on the absolute return balanced -- at WB BAX is the ticker symbol there.
Up quite sure is hard to tune out headlines when -- -- I read these markets by triple digits on any given day.
It's amazing to me that the interpretation on a daily basis reading the tea leaves.
Expectations.
Are really high by investors.
That whatever problems we're facing just go away and any day that they feel that we don't get some kind of movement forward a resolution.
That our problems are behind us we get a bad market reaction like we had yesterday and today we've got to sell off because.
Whatever the interpretation was -- statement by the Fed.
Wasn't quite good enough to keep everybody happy today.
Now for your fund I was looking at some of your top holdings you've got a mix of exchange traded funds everything from say for example the -- floating rate note.
But also some big consumer names everything from Pepsi to -- you've also got Safeway.
Illinois Tool Works that's got to be -- a very tough.
Job for you certainly looking at at all of these different moving parts that are affected by the economy or even the perception that Teddy was just talking about.
But one of the things that we we think that the perception about the economy is overly negative OK overly negative everyone listen to Don -- -- firmly negative.
What we have is we've got the best earnings record -- -- In corporations are hesitant to get -- -- said if that starts to erode a bit do you think.
Erosion it hasn't been eroding as a matter of fact it stayed strong it was almost 18% quarter over last year's quarter growth for S&P 500.
Companies which is right it it's significantly.
Ahead of expectation.
Expectations keep calling the market performance and and corporate performance down.
And in fact it continues.
Two give -- better than expected results we think that you know the things that the headline news risk as an example government.
Jobs vs private sector jobs continue to give people the wrong impression that governments cutting employment.
Private sectors raising employment so we've got the unemployment number stock.
At around eight point 6% most recently but in fact what we're looking for is government.
To stop cutting as many headcount while private sector strengthens and we see that happening.
Well it's interesting because a lot of people -- -- under certain areas of the country are saying stop bloated government and -- cutting back government jobs you see it every single -- report.
It -- -- the complaint of we don't have enough.
A lowering of that unemployment rate what else do you look at aside from the jobs level.
But we look we earnings -- -- We do look at revenue growth for corporations -- we pay a lot of attention.
To the most recent factors on consumer spending and business spending business spending has been very strong.
You know it took a pause there for a little while and gave people concern that maybe was gonna start to slide.
It has and its re accelerated and consumer spending has also accelerated a little bit.
Now in all these cases it's doesn't seem to be enough to satisfy.
Investors on a given day.
And that's what causes these big gyrations between gain and loss what does -- like now he's going to name some names and I'll also tell us what he's doing with commodities.
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