Anthony Scaramucci, founder and co-managing partner of SkyBridge Capital, and Gary Kaminsky, vice president of wealth management at Morgan Stanley (MS), were guests on the show. Kaminsky thinks interest rates were likely to remain low and possibly head even lower. He doesn't see a credit bubble either.
Scaramucci was joined by Ingrid Pierce, managing partner of Walkers Global. She said many institutional investors, big and small, are looking for more alternative investments. This bodes well for several different sectors such as "event-driven" investments and the credit market. She said the increase in offshore registration for hedge funds is likely to continue, possibly due to the fear of increasing taxes.
Scaramucci said his firm is looking for alternative investments related to activist investor situations, as well as mortgage-backed securities. He added that trust certificates from bank recapitalization related to Basel III regulations are also an area of great interest. He pointed out the underperformance of the standard long/short hedge fund managers.SodaStream International (SODA) fell 1%. It was the first stock on the show's "Pops & Drops" segment. Adami was a buyer. Sony (SNE) fell 6%. Najarian said, "I would stay away from Sony." Nouriel Roubini, co-founder and chairman of Roubini Global Economics, and Peter Schiff, CEO and chief global strategist at Euro Pacific Capital, were guests on the show. Roubini argued that for an improving economy, inflation below 2% is needed. He thinks gold is likely to fall and the U.S. dollar should strengthen. He said deflation is a sign of lacking growth and pointed out that it's generally present in economic depressions. He also said deflation is a sign of low demand. Schiff argued that deflation would help the economy, not hurt it as Roubini suggests. He said the U.S. dollar is going lower while gold is going higher. He said falling prices will help consumers by making their money go further adding that Americans don't wait for cheaper prices, they simply buy things when they need or want them. Adami said Clovis Oncology (CLVS) has "room on the upside" due to its recent selloff and short interest.
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