Beginning tomorrow, January 10 at 7:30 p.m. on public television (check local listings**) and on wealthtrack.com, Consuelo Mack WealthTrack features an exclusive, two-part TV interview with two legendary investors: ISI Group Chairman Ed Hyman, Wall Street’s number one-ranked economist for an unprecedented 34 years and Legg Mason Inc (NYSE:LM)’s history-making Portfolio Manager Bill Miller, who discuss the outlook for the economy and markets — including the unprecedented role the Federal Reserve is playing in both — and their top investment strategies for 2014.
In Consuelo Mack WealthTrack “Legendary Investors’ Predictions, Part 1” — premiering nationwide Friday, January 10 at 7:30 p.m. on public television (check local listings**) and on wealthtrack.com — Anchor and Executive Producer Consuelo Mack asks Ed Hyman and Bill Miller to describe the forces that shaped last year’s economic and market performance, that set the foundation for this year.
Here’s a preview of Mack’s exclusive TV interview with Hyman & Miller:
Ed Hyman on why he thinks we will see a strong market rally between now and the spring:
“Over the next three months the Fed is going to inject $200 billion in the economy and the Bank of Japan will do about the same thing, so you’ve got $400 billion in three months, multiply that by four, that’s $1.6 trillion coming into the world economy, and the bond market doesn’t look particularly attractive, and I think there will be a pretty good push here.”
Ed Hyman on the biggest uncertainty in the economy and market:
“The biggest uncertainty is this unprecedented monetary experiment. We’ll have to take a step carefully each day to see if it looks like it’s working….I’m a nervous wreck.”
Bill Miller on the Fed:
“There’s a Chinese proverb or statement, ‘forget about waves and try to find the current’…The underlying current is it’s a bull market…The thing I’m concerned about is if the economy grows too strongly, let’s suppose we start seeing 4% plus quarters this year [n GDP growth] and then unemployment drops rapidly and capacity utilization rises pretty quickly and then you pull forward the Fed’s first interest rate increase. I think that’s where you are likely to run into some heavy going…As long as the Fed pins the short rate around zero and that’s going to continue until around 2015, then the market’s path of least resistance is clearly higher.”
Consuelo Macks says: “Both Hyman and Miller think the economy will continue to grow for several years and that the market rally will continue unless something changes significantly.”
In Consuelo Mack WealthTrack “Legendary Investors’ Predictions, Part 2” — premiering nationwide Friday, January 17 at 7:30 p.m. on public television (check local listings**) and on wealthtrack.com — Ed Hyman and Bill Miller will discuss why they both believe the U.S. is the best place in the world to invest. They also discuss names of stocks they like. Miller once again talks about Apple Inc. (NASDAQ:AAPL) — his no-brainer last year still is — and they both recommend Citigroup Inc (NYSE:C).
**Local market airdates and more info on Consuelo Mack WealthTrack are below.
About Consuelo Mack WealthTrack
New episodes premiere every week nationwide on public television (check local listings)
**New York metro area: Fridays at 7:30 p.m. on WLIW21, Saturdays at 8 a.m. on THIRTEEN and Sundays at 10:30 a.m. on NJTV
**Los Angeles area: Saturdays at 8 a.m. on PBS SoCal WORLD, Sundays at 3:30 p.m. on KLCS, and Tuesdays at 11:30pm on KVCRDT3 Desert Cities
Online: New episodes stream Mondays on wealthtrack.com
wealthtrack.com – features new upgrades including a redesign to match the series’ new HD broadcast look for season 10, and exclusive enhanced content. Full episode streams, Consuelo’s “Action Point,” guests’ “One Investment” picks, transcripts, WealthTrack Web Extra featuring exclusive episode outtakes, interview podcasts and more, are also available at wealthtrack.com.
Consuelo Mack WealthTrack is a presentation of WLIW21 in association with WNET. The series is distributed nationally by American Public Television and sponsored in part by New York Life and MainStay Investments, Loomis Sayles, and Wintergreen Advisers.
Consuelo Mack WealthTrack official websites: