MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, June 21, 2012 Hasenstab Reveals a Blessing and a Curse The European debt crisis is a "blessing in disguise" according to Michael Hasenstab, reported Reuters. Hasenstab, who PMs the $57 billion Templeton Global Bond Fund [profile], also criticized the dollar as a safe haven. Hasenstab spoke during the 2012 Morningstar Investment Conference in Chicago: I think the big fear is just the financial contagion from Greece and everything about banking and about debt markets is confidence. So I think that is the fear - that even though, fundamentally, Italy is solvent, Spain is solvent, you have enough bad confidence, you can turn a solvent situation insolvent.He added that getting past thought the euro zone crisis is "going to be messy, but it's not Armageddon." Hasenstab also said it is a "curse" to invest in the US, especially in Treasuries. This is because of the excessive credit through monetary easing, thus heightening the risk of inflation. Printed from: MFWire.com/story.asp?s=40387 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |