Nothing Can Make Me Bullish on Stocks Now: Manduca

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July 14 (Bloomberg) -- Titanium Capital Chief Executive Officer Philip Manduca discusses the impact of monetary policy on markets and his subsequent investing strategy. He speaks with Jonathan Ferro on Bloomberg Television’s “On The Move.” (Source: Bloomberg)

Can we just move on?

We keep moving on.

We have survived so many crises.

What is another.

It's a cynical approach.

The real problem is the guys who have got the dice in their hands keep changing them.

They can do whatever they want.

They are making new rules all the time.

That is why financial crises, when they are isolated and there isn't anything else going on, rules get change.

Life moves on.

There is a saying that markets can say irrational.

You have just seen it get higher.

Does it change anytime soon?

It doesn't change.

I know i am going to die.

That doesn't mean i have to be bearish all my life.

You don't have to be bullish even though you think equities are going up.

They think it's difficult to calculate the understanding of it.

There are good reasons for the markets to go down.

Good reasons would have to be a confluence of events where you have financial crises allied or possibly caused wide macro political crises.

Those are building but still containable, which is why financial crises are not causing any volatility.

Let's talk about the federal reserve and loose monetary policy.

Janet yellen speaks this week.

They are talking about the emerging inflationary pressures.

If you asked janet yellen that question she will call it noise.

Is this week the turning point where she has to introduce two-way risk?

Is it her job not to do that?

She has to take some responsibility for that complacency?

He is a political opponent.

She is there to make sure they stay in power as long as possible.

There is a real pressure to do what is right for the country.

The problem janet yellen has got is the central bank views itself as the bank of the world.

It's not just a domestic policy.

It's a global policy.

What happens in america happens elsewhere.

She is setting the policy for the world, which is why the dollar has always remained soft.

The american monetary policy is set to the global growth policy.

Surely otherwise the reading would be firmer than it is in europe.

Why isn't it?

There is suspicion american monetary policy is to the lowest common denominator in the system . if federal reserve policy is a global thing why are they in this regard?

They cannot solve every problem.

They are trying to foster growth.

There was this myth that if they get growth in china they will be able to sell goods.

China sold it's good to everyone else.

They have tried to save the world.

They feel they have this responsibility to save the world.

American monetary policy is going to be that much softer than perhaps domestic conditions warrant.

What is going to make you softer?

Nothing at all.

Here is a look at what is coming.

They unveil two new jets.

The race to dominate the skies intensifies.

Citigroup plans to pony up $7 billion.

Speaking of deals.

The takeover is on the table.

Shire confirms it is in talks with abbvie.

You can follow me on twitter.

This text has been automatically generated. It may not be 100% accurate.


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