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Let's get back to Jonathan Brodsky and your picks at the moment you're not interested in US equity stocks -- -- at the moment tell us what you do like and why.
Yes so again we're looking around the world for interesting opportunities and they historically certainly over the last few years the emerging markets -- inexpensive -- as I talked about valuation is key for us so we're looking.
-- opportunities especially on the US market data that played in the emerging markets.
And two names that we think are of particular interest are a company listed on the New -- -- stock exchange by the name of China you try ticker CYD.
This is the largest diesel and natural gas engine manufacturer in China.
Which is gonna benefit from increased emission controls which are coming on stream over the next month or.
A whole lot of -- -- pushed back before you move on to the second one because a lot of the reason why Japan was down 7% was because news from China.
That their economy is slowing down -- their economy slowing down they're not gonna have any extra money -- -- on green projects.
Yeah I think that's an interesting point but if you look at the major objectives of the Chinese Government -- really focus on re -- -- the economy for domestic consumption.
You look at pollution controls those are areas where there's not going to be a turnout amid a turnaround in the Chinese economy so our focus is on companies that apply to that type of of -- market and in the case of -- -- -- really emissions controls and eliminating pollution is.
Extremely important and and you also might not want your second pick before we go back a lot of America -- yeah yes and and this is had a nice move up 21% year -- year.
Of people and say wait a minute as a bank video of this is disconcerting or worrisome you're not concerned.
Yes and this is the south American trade finance bank based in Panama valuation is extremely compelling at nine times earnings of 5% dividend yield trading right around book value.
With eleven up percent -- we consistently over time a lot of people don't know that the Panama Canal is gonna be widening but two times over the next couple years.
And we expect increased trade penetration between Asia and the Latin America to continue -- is gonna benefit this bank.
Are you all -- there yet all worried about corruption -- I used to cover Latin America this for a bank in particular was look that we've raised eyebrows by a lot of people in the area.
-- I'm we've been down there we visited them is actually owned in part by -- governments of the central and Latin American countries.
So I don't know I don't know that we've made me feel better about the corruption -- area.
Again we feel very confident I know there's been concerns about that and certainly concerns about some Asian banks as well we've done our diligence on -- company.
It's extremely well run extremely well capitalized we got a great record so we trust -- do -- Since Jonathan brought gave Todd -- we're gonna see you -- just a few minutes to seal the S&P futures closed but we should --
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