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Play and TV -- the bird is good and one of my favorite well he's -- -- pat doors they've Narnia our director of stock announces he's also Fox Business contributor.
Is joining us.
Twentieth anniversary for the annual Morningstar conference pat I just think back like even eight years ago.
When all you like to talk about Lehrer I -- tech IPOs.
And technology investing in today it's completely different world the focus on credit bonds and international.
Exactly are they really has changed over time -- first thoughts Islam Nagin used to be.
We have new investment tools I mean each yes who have who never heard of them five or six years ago and now they have hundreds of millions of dollars in assets have a couple panels on those today.
You know it's always have a balance -- the conference between talking about things people want to hear about which would ever been up lately.
And things that may outperform going forward which usually after classes and cold recently.
But I notice there's no specific panel on energy one.
That's a good question and we've had won the past couple of years on the we -- have you know a lot of panelists who own energy.
And you know it sound that the sector oriented panels are very narrowly focused.
You know the because it's -- myths and so we had when the past couple of years in the -- this time they give it -- registry.
If you've been here and the mood among the investment advisors who were attending the nearly a thousand of them pay and good money about 750 dollars and -- to come here these top mutual fund managers what do they wanna know and where what how they feel.
It's an interesting question can you would think you might you know be hearing feelings of -- You know you look -- in the investor sentiment surveys you look at where the volatility indexes.
But really what I'm hearing from the folks I'm -- so far.
Is -- -- -- feeling of where the opportunities.
You know I know there's turmoil I know it's been a tough couple of years but that means there should be stuff I can Bonnie that's going to out -- going forward so it's.
Decidedly more bullish -- not hearing people.
But the feeling of -- hundred hunker down and just kind of put their heads in the sand.
Bullish on oil balance obscenity and it's pond near and mean it did do -- Biggest issue is and you give us structural change in the industry right to demand in India and China.
It is not Linear on the tends to rise you know in -- more parabolic -- as people who buy cars buy motorcycles and demand.
Feeds on itself.
And that's something we have in the market that we didn't have five or ten years ago soils not going back to ten bucks to -- let's just be frank about that.
On the other hand if you to the recent testimony before congress about high oil prices.
One of the participants that the -- books written testimony made the argument that you have -- this new money from long only pension funds and endowments.
Asset allocating in the commodities -- to support the prices for a long term time to come.
I heard that exact argument verbatim about reits and real estate about three years ago.
They kept running for a little while but not so good lately.
What -- you mentioned it she asked do you think does exchange traded funds however -- in a way encourage.
Individual investors to place bets.
In areas even in real small sub sectors it sounds like the BB stocks of the the late ninety's.
It didn't encourage them -- -- bad behavior person's -- to take excess risk again.
It's a really good point and certainly there are tools that can be misused because I mean.
And you thought Internet phones were bad at least -- own stuff across a variety of industries and now you have he's very nearly -- -- yes.
Better you know focused on you know the nano technology stuff that doesn't really exist yet.
And so you're right that these are tools that can be used in that area I think dangerous fashion.
The flip side those that there are low cost ways.
For investors to get exposure to things like currencies and commodities that really they had no way of getting exposure to unless they were ten million dollar endowment.
So you have to do the good with the bad.
You -- director of stock analysis quickly in bad if Anheuser-Busch says no thank you that won't do do I think if you -- Budweiser sell -- now without question.
Tommy and looks like that bush families and fight this thing that shouldn't be fighting it.
Combination would be great for -- shareholders.
And basically what's happening is the bush family wants to keep their -- and keep their jobs.
It's not shareholder friendly they should be accepting this offer and says shareholders should take their money get out and put it elsewhere.
We don't believe it was stick around anyway welcome back to that has great -- -- thanks and I couldn't thank you for having us here are.
Terrific -- we're gonna be here through tomorrow you can always catch pat on Bulls and Bears every Saturday thanks for having me here they go out solid play.
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