This transcript is automatically generated
-- think momentum but don't get caught up in the now that's the strategy of market Penske he's the chief investment officer global and non US equity.
At American century thirteen billion in assets under management and what does that mean -- that.
Fixing the guys that know about today at the that they hear in the now I think that we have to look at now what's going on in the in the markets and then sort of and don't expect anything to happen today.
It's gonna take time Europe is gonna take time but I think Europe will work its problems out as you said earlier.
Germany does not need the Euro to break up Germany benefits of the best -- -- from the the Euro -- of the Euro and.
They'll see it to the end okay so is this is fancy Wall Street speak for the long term investor then.
No I don't think it's necessarily be along to investors speak I think it's.
-- -- -- And stick with them and by right.
And sell them when when they lose their fundamentals well today we got some good economic data we got an empire index which is -- New York regional index of manufacturing here in the US that looked good to better than expected we got China's GDP that whilst the slowing from the previous quarter year over year rather eight point 9% GDP which is huge compared to the US of course and then we got the Germany if -- survey which is.
Which is a manufacturing index that was looking healthy as well.
So does that mean that in the near term things will not be as bad as others might expect and that you should be bullish on equities and don't that don't forget six months ago we are talking about a double dip recession United States in the US has come out of that.
I think Europe is not as bad as people think it's because we have to look at Northern Europe not an -- Southern Europe.
For its own right Tom Reilly down at the nymex at the top of our show she said I don't see.
A 130 dollar a barrel oil maybe a 115 but were only a hundred.
What is the magic number from where you stand for oil per barrel as the saudis come in and say that they think it's a hundred right now right.
I think -- were at a 115 -- were kind of in what I would say.
Because if we move up that 130 number.
I think there -- -- puts a global economy back on on soft footing but what does that magic number that initiative 215 so he's about right there.
Yes watch out for that all right so when mark says you've got to pick the right companies guess what he's going to share those right companies with you coming up in just a.