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Janney Chief Fixed Income Strategist Guy LeBas and First Asset Senior V.P. John Stephenson on Groupon’s first-quarter earnings and outlook.
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-- John let me get your opinion on this say in the aftermarket session now we're seeing yet another near 10% move in the stock after it already jumped.
1819%.
During the regular session is this something where you would look at it and say there's real potential here there's a business model -- once polished a little bit.
Might really come through for a long term investor.
Sure I think there there's some very good individual stories out there and this would be one of them.
I think the reality though is that corporate America is doing just fine in general mean -- two trillion dollars of cash problem -- for markets really is.
Is these macro stories which -- mention of the top of the show.
And and that's really was driving an Indian institutional investors are are swinging mostly from one extreme the other one is not losing any more.
But the capital in the others not missing out on the rally and that's what's driving -- in this market so sure.
Company specific stories are good but I think I think for now you're probably better off to crawl into the fetal position hold on -- Tap tap tap.
Well let me get to -- -- hopefully enough curled up in the fetal position right now.
Let's talk about the market in more general terms look at let's give direction let's get reaction for us from a group on do you like those social -- stocks are you into those.
Well I would say that I'm a little bit of that technological what I and I haven't quite reached Tweeter level I'm afraid -- But but in all seriousness from from a long term conceptual perspective.
You know we're not really an interest in investing in the company his business model can be a 100% replicated with relatively limited investment.
So not speaking about specifically Groupon but just in general as a long term investing constant.
Well I I think I think you're absolutely parent your assessment it's Twitter Tweeter is a -- that that could -- to help select -- tropics but that's Q.
-- -- But -- what would you put people and you people are talking about treasury inflation protected pit tips would -- really working right now.
Because we don't really have inflation will they eventually work.
Well we we believe this is really the sort of hedged portion of the portfolio as I said earlier the -- what if things go right believe it or not that does happen sometimes.
But really I think what for more core -- portion of fixed income portfolios -- a big fan of the high yield credit markets right now.
Yes levels have improved prices have risen quite a great deal to be -- of 2012.
But there's still some good value left to be eked out throughout the balance of the year and we were so good long ways from the top in that market arm.
Thank you so much -- -- and John Stephenson it's great to see both of view we've.
