Mario Gabelli Isn’t Concerned About Slowdown In Growth

Mario Gabelli, The Gabelli Funds founder and chairman, joins ‘Fast Money Halftime Report’ team to discuss the mid-day markets amid U.S-China trade tensions.

H/T Dataroma

Mario Gabelli slowdown in growth

Mario Gabelli Is Not Concerned About Slowdown In Growth; Strong Global Economy In 2020

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Q4 hedge fund letters, conference, scoops etc

Trasncript

My own reaction is simple we get some cloudiness whether it's the Berlin Wall the Great Wall or some wall and you've got to slow down. But when you look out. To the third quarter. We're here now let's say in September looking into Q1 of 20 20. The numbers are going to be very easy. I think they solve the Chinese problem when they move ahead. So the shutdown is behind us the economy is going to be looking extraordinarily strong. Cap ex infrastructure spending I think is going to get approved because of what happened in Genoa. You cannot be a bank. It's a House of Representatives or Congress Senator that says we're not putting an infrastructure. You have a bridge fall down particularly before an election. And so I kind of look at the you know kind of grinding our way through the next three or four months and looking into the second half when I think the markets are quite well. So on the economy you say it's going to be incredibly strong. The first part of 20. You don't buy the Dalyell and others talk. They have they clearly. Even the IMF shows you a three point six percent real growth with a slowdown in 2020. OK that's not bad. That's global. So from my end when I look at the United States I think we're OK. Clearly the first quarter is going to have some hiccups. The China they have to really help their citizens and the consumer sectors 40 percent.

I think they're going to figure out ways to stimulate that by giving a blanket helping with regards to their financing of some of the debt they have. So and then Europe I think we do nice with Putin. That economy gets stronger. Energy is going to help them. So I'm kind of comfortable with the economy in 20 20. The global economy we had a global look out us you can. You're not concerned about a slowdown in growth. There will be a slowdown in growth a year about a year ago 12 months ago. These are in quotes economists would tell you you can't have secular growth beyond 1 percent productivity and 1 percent population we are 4 percent real. Nobody in their right mind would think that's sustainable going to have a slowdown. The question is. How slow. And so I'm in the camp that says 2 percent real 2 percent inflation for the 4 percent nominal growth in theU.S. and that's not bad.



About the Author

Jacob Wolinsky
Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Prior to ValueWalk, Jacob was VP of Business Development at SumZero. Prior to SumZero, Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver