This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cautious Optimism On The Global Economy At Quinnipiac University's G.A.M.E. III Forum In New York

NEW YORK, April 4, 2013 /PRNewswire-USNewswire/ -- The U.S. and global economies are slowly recovering from the economic crisis of 2008, and consumer confidence is growing. Uncertainty about government policies and stubborn unemployment levels remain as obstacles. That was the consensus of a high-level panel of experts on the first day of the Quinnipiac University 's third annual Global Asset Management Education (G.A.M.E.) III Forum at the Hilton Hotel Midtown.

"Business profits are pretty good, but hirings are not there yet," said Frank Hatheway, chief economist at NASDAQ OMX Group, Inc. "We don't yet have the level of employment normally seen at this stage of the business cycle." Hatheway called for stimulating the sector with government job retraining programs "so we can start creating 400,000 jobs a month, not 150,000."

Hatheway was one of four keynotes on the morning "Global Economy" panel, and his bullish outlook was shared. According to another speaker, Bob Doll, chief equity strategist and senior portfolio manager at Nuveen Asset Management, "The world economy is slowly, irrevocably improving." Looking at the U.S. economy, Doll said that "the business sector is in pretty good shape, and corporations are now willing to spend a little more on hiring workers, investing and paying dividends. We're seeing sustainable momentum."

That momentum hasn't yet taken hold in Europe. Doll said the European economy is likely to remain in recession for the year. In contrast, he said that economic growth in China "has achieved a soft landing."

Building on that, Larry Adam, managing director and chief investment strategist at Deutsche Bank Private Wealth, said a large percentage of global economic growth is now coming from the developing world. Adam said that although GDP growth in the U.S. is "volatile" and somewhat uneven, the Federal Reserve under Chairman Ben Bernanke "will get a very good grade" for its handling of the economic crisis (particularly in the early years post-2008.) He cited as positive signs increasing levels of consumer confidence, low energy costs and no uptick in inflation or commodity prices.

With due diligence, investors should consider putting some of their assets into the developing world, said John Silva, managing director and chief economist at Wells Fargo Securities, LLC. "The fundamentals really matter," he said. "You have to look at the framework of countries' fiscal and monetary policies."

Silva cited Brazil and Turkey as examples of nations often overlooked by investors that have notably business-friendly climates. He said that corporate operations are increasingly global, citing the availability of Coke Zero in Bhutan and a T.G.I. Friday's restaurant in Dubai.    

The investment conference's first day also included panels addressing "Alternative Assets vs. Equities," "Global Markets" "Corporate Governance" and the "Federal Reserve Perspective."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs