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If you wanna take aluminum are risky can actually get bigger returns Steve wood chief market strategist for Russell investments this year.
I think we've been hearing this story over and over again.
You gotta be willing to put -- money your money in the equities market correct and yet we see below the low participation around the world -- I mean.
Australia Japan all time lows on volumes in these markets.
So we keep asking what is it gonna take to get the average cut back into the market.
Actually from the average got respective years in the opposite you're seeing.
How money come out of equity markets -- gone into bond funds and you -- because I I think people kind of get scarred by their generation know like right entrants in the thirty's my.
In our parents in the seventies you know they would have been scarred by inflation -- I think the volatility last dozen years.
Has really a lot of people not institutional sized wells retail so our job is to hold their hand through the volatility in to say that even in -- low volume low conviction.
Environment like this if you're in that globally diversified multi -- strategy.
Play the odds longer term -- bandage and paying for something close to its all time high priced government bonds -- is not really the way you wanna go.
You know -- you say -- -- better part of a decade to get us out of this Marines right and what kind of halfway through it so what does that mean we had -- -- five years of nothing.
What this couple -- looking -- that one are the equity markets in the and if you look at bonds or stocks they -- a bit differently than the economy -- but you're seeing the stabilization in housing I think it might be premature to say that we've got a recovery.
Stabilization in housing now for a lot of people that's going to be their biggest -- now.
Stock markets are a little -- so that wealth effect -- how they feel about their -- gradually could have an impact.
But you need the better part of a decade to work your way through all this -- you know took fifty years for the.
Western world to borrow way too much money every man woman child government out of this idea in an -- takeaway think isn't happy and part of that is memory to write in another five years and in the will -- forgot -- or the next generation have forgotten the mess we been through and put their money back.
Let's talk about where you putting money though right now.
You know this notion of being globally diversified and -- minding your.
With it being European stocks in that that's missing -- so.
As an active manager what we want to do is we -- -- get good stock picking into the portfolio.
What picketers bonds that are stocks and there's going to be -- difference between companies so in Europe there are some very good companies I can't talk specific -- within the park place.
You know Germany northern year.
But then also the portfolio level kind of take -- -- that risk of year -- Europe's got some problems so how to get those companies in the portfolio.
Kind of short -- some exposure in the -- to get the best of -- barrel this thing it's a stock pickers market is still has been.
Let's talk sectors quickly energy consumer Staples -- -- seems to be on everybody's hot list her.
When -- when they become overpriced what I would also add to that that consumer discretionary Israel looking at the consumer I think valuations ultimately matter.
And I would look at it this -- earnings came in at.
Okay Iran very lowered guidance revenue really came in south so the earnings cycles maturing is getting all soft.
Also the economy slowing down I think.
It the economy slowing down in response that global.
Fiscal -- in Europe and the United States so we can make a couple -- as -- Smart compromises and Washington.
And in Europe you could see a little pop to the upside right now reasonably Smart decisions in congress MI big contradiction in -- but if we -- see that Ohio came back a bit.
Yes I would -- that -- led thanks so much me being here.
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