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Strategies & Market Trends : Contrarian Investing

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pcyhuang

From: Julius Wong	8/4/2014 10:48:02 AM
	1 Recommendation of 4080

STEVEN LEUTHOLD: THE CONTRARIAN’S CONTRARIAN TRANSCRIPT July 11, 2014 CONSUELO MACK: Another contrarian view, theme that you have as well is China. You’re actually bullish on China. Why China? ... STEVE LEUTHOLD: Well, it’s pretty simple. Economic growth, whether it’s reduced to six percent or it’s seven and a half that the bulls look at, it’s three to four times what it is in the United States. When you look at the P/E multiples, it’s half of what it is in the United States. So here we have a fast growing economy with management so far that’s been very reasonable in what they’ve done even though supposedly it’s communistic, and to me you’re looking at a country. I mean, I’ve been to China. I’ve spent time in China. I see what’s happening. I see the miracles. I was there in the Olympics and so on. I see a country that on the international basis is really being picked on in all the things they might be doing that’s wrong, the over extension in the housing area and so on. But if you compare them and then the assets that the government has compared to the U.S., they have the ability to withstand that with government spending. And I think when we look at China, there’s two areas. We have a couple of broad mutual funds we have that are well managed. One is the Matthews Fund. ... wealthtrack.com

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