Be brave and buy equity – that was the message from Swiss fund selectors gathered in Gstaad on Thursday.
With the bond bonanza still very much in train, Switzerland’s professional investor community showed their contrarian side at Citywire’s latest event held at the famous alpine resort of Gstaad with 70% of delegates arguing now is the time to snap up beaten down companies.
The remaining 30% agreed with the statement ‘only fools rush in’.
Opinions were just as emphatic on another hot topic - China.
Assessing the future of the worlds’ second largest economy, 78% of the audience were optimistic, voting in favour of a soft landing. The remaining 22% were in the hard landing camp.
Inflation expectations did, however, cause much more debate. 40% of fund selectors felt products offering protection were fairly valued, the remaining 60% was split between doves (28%) and hawks (32%).
On the issue of Draghi’s much celebrated OMT, Swiss investors showed more restraint. Just 10% felt it was the final measure to solve the crisis.
Taking place on September 20th-21st at the Gstaad Palace, the line-up for Citywire Switzerland includes ten top portfolio managers, a former White House adviser and a former World Economic Forum director.
Key note speakers include Dr Pippa Malmgren bringing her inside knowledge on US policy from her time as White House economic adviser in the Bush administration and Dr. Frank Juergen Richter, former World Economic Forum director and emerging world risk specialist.
Citywire Global will bring you all the news and views from the event as it happens.