You're watching...
Hilliard Lyons CEO James Allen weighs in on business and Derby week.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
I'm Lauren -- -- here at that 100 and their -- running of the Kentucky Derby joined by the CEO and president -- -- Tim Allen thanks for coming down to distracting being here with us thank you for having me I'm new hires this long narrow lanes.
-- -- And bank of Louisville, Kentucky is that right that's correct for an old line invest regional investment firm based here in global are -- origin goes back to 1854.
And we've got.
About seventy offices in twelve states serving individual investor would like to do business right years ago.
Oh it's it's a great place to do this and what -- -- to the locals just a great place to live person -- got it's midwestern southeastern.
Southern values and in so southern hospitality.
There is that there is you know here -- -- you probably have helped our.
-- -- -- -- This week in -- and so it's an exciting time to be here a little bit of a distraction for those of us in the business world because a lot of clients a lot of culture focused on the derby for the next couple of days and yet you that's credit and a couple yeah.
But by and large it's a great place to be.
You tell me something earlier that today which is.
Kentucky oaks day it's planet races three year old -- -- -- if for all locals that I go to an apparently was from all the toys they're coming tomorrow.
-- isn't even for the local many more out of the -- well like the -- has just become incredibly popular.
The -- industry here is a big deal.
The way that Churchill Downs and global handles it.
Horse racing enthusiasts wanna get as much of it is they hand and so what used to be reserved for the locals which was out today has now become.
A big national spectacle as well and so you see the locals coming on Wednesday and -- -- statements that there be weak overall it's become a big deal.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- So why have I let take -- better with your business -- way you're answering this what are your exactly right and I included that as well -- -- my business I -- with force so.
Anyhow but it's fun to be part of it and I think everybody who lives here needs to give it a shot at some point.
I switched to economic experts and 2012 has been strange here in the market as these other recovery happening a little -- Spelled out a little bit right what are your.
Klein thank you ask.
And what's their concern.
Well I think there's still a lot of investor -- so while the market improvement in the recovery has created evolution that things are getting better.
And clearly there are and there are still some dislocations and there's still some uncertainty out there.
The fact that interest rates are as low as they are back with the bond market.
It's it's got some risk more risk associated with -- because -- rates.
Ultimately a lot on prices will go down so investors are a bit of a wandering in terms of what to do and how to allocate capital -- and the -- are your investors a little concerned that rates are so low because I'm assuming.
You got them big money and they want to make some money honey an -- -- -- winds ten absolutely savings account.
Absolutely and so what you see happening is because of some of the traditional.
Mechanisms for earning interest income money funds and short term.
Investments short term fixed income investments are producing those returns in the manner that they.
Traditionally antsy investors to investors taking a little additional risks re looking for dividend producing stocks in the right or other ways -- turn income.
And my last question for you would be there's some huge brands down here in the -- course Hilliard Lyons that we had Yum! Brands we -- Humana we hadn't.
Brown-Forman UPS he's seen businesses are down here is our Kentucky's -- is very.
Business front act.
Do most people work for those big companies can.
A lot of people work because companies here document and there are a lot of small business.
-- a lot of global financial institutions and regional financial institutions as well as other businesses but clearly.
-- -- some of the very large dominant brands in great companies that contribute.
-- tremendously to the local economy.
Very supportive of the Philanthropic needs of the local communities.
Those girls -- and -- of course favorite from Ireland you know I'm gonna go with the union rags yeah -- that day.
I'm -- with I'll take another post nineteen.
Gonna come on out thank you for everybody can see you later and smile great thanks so much Tim Allen thinks things he has.
