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Foxhall Capital Management CIO Paul Dietrich on why some of the best opportunities for investors are in the Asian stock markets.
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-- -- money manager here to tell you where he sees the best bargain stocks in the world right now emerging markets may be -- Full -- is -- capital management's chief investment office.
-- okay let's get right to -- where in the world do you like to put your money.
Well I do everyone's excited about the US stock market today but for global value investors like we aren't fox on capitol.
I'm finding the best values in the world.
In Asian stock markets I mean you know Asia has significantly -- there's no question about it over the -- the last year but it's still growing at five to 8% a year and that's four to five times what we're doing here in the US Europe and Japan on.
The other thing that that people need to remember is that for the last two year years Asian stock markets have gotten hammered.
Many were down over 20%.
And so they were completely oversold as their central banks were raising rates and trying to rein in growth which they were successful in doing.
Now what the global slowdown.
Or Asian central banks China's central banks are starting to lower rates and when that happens that's almost always good for the stock market.
Don't fight the Fed don't fight the central banks and I think we're starting to see our real upturn in Asian stock markets and you're gonna want to be part of that.
And there are some really -- are sold stocks.
All they very dependent on talking about the emerging markets very depend on what happens in China and we never really know what's happening in China we know that.
We -- understand the gonna be easing -- monetary policy Lisa what we think but.
As China goes doesn't the emerging markets go with the.
Yeah I think you're right -- again you have to look at fundamentals and I think China is where the best values are today.
I mean you're seeing -- spectacular.
Content companies.
With great franchise is huge returns on equities as you like in particular -- in particular like China Mobile probably the fastest growing.
Wireless telecommunications.
Company cell phone company in the world.
Low PT higher return on equity high cash flow big franchise.
The other company -- like to see -- duck it's the biggest oil company there are now investing in Canada up.
They have probably -- if you look at long term trend is the greatest demand for energy and oil of any company country and the world.
And they've got the dominant position.
And I also like a company called.
Television.
Broadcasting.
Which is you have to buy over the counter here.
But it is like the DirecTV of Asia and unlike DirecTV here that's growth is sort of plateau and right they just have -- -- enormous growth potential.
You also like I was looking at you know it's -- also like the Chinese online and tech companies which ones in particular.
Well get off I I kind of a like all of them -- investing in all of them because I don't like here in the US you don't know which one's gonna take off.
But you just know that that sector is movie.
And it's going to continue to move.
Deal we I mentioned this earlier do you think that Chinese Government is gonna stop looking at -- easing their monetary policy and what impact does that have.
Well they're already started and I mean -- we've we've already seen.
Them easing their currency you haven't heard near the complaints.
From US government officials.
That we've been hearing in the past because they know.
That they have -- slowly.
Easing their currency.
And it you know it looks like they're starting to lower interest rates and I think that's going to continue and you're seeing the results.
In the stock market and I think now's the time to get into -- the Chinese but I think you're gonna see -- all -- -- Great stuff Paul Dietrich -- capital management's chief investment officer Asian markets and loves China -- -- -- so much.
All right.
