Do you have a barren outlook on the global financial picture? Bad news: things could get worse. At least this is what Man Group Plc (LON:EMG) GLG partners’ chief investment strategist, Jamie Baz, believes. He has actually dismissed the notion that the crisis will last for some months or several years. Baz is surefooted that the crisis will last at the least 15 years or stretch to a terrifying two decade period.
Baz is particularly noted for saying that the crisis had not yet began. His remarks met the dismayed ears of listeners at the GAIM 2012 conference hosted in Monaco on Tuesday. He added that the economic impact would be devastating. This shattered the little remaining shred of hope in listeners and painted a darker shade of gloom.
What is the reason behing Baz’s negative sentiments? The investment strategist exclaims that debt levels in key countries have ballooned over the past five years. He particularly emphasized on the debt increase in G7 countries. To add to his argument, Baz also made mention of the rickety economy in Europe, particularly pegging down to Greece, Ireland, Portugal and Spain.
Baz accented that risky assets would give a whole new definition to ugly. He contends that equities are still expensive in comparison to bonds citing that corporate bonds were far much cheaper than equities. Jamie Baz’s outlook has placed him at odds with an overflowing number of hedge fund managers.
In case you think Baz is basing his outlook on wishful thinking, you are wrong. The investment strategist actually has a very rich educational background. Vasko DeLev of recommended broker gives a sneak peek of Baz’s educational backing. The strategist attended London School of Economics and is an alumnus at Harvard.
