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Passport is one of my favorite hedge fund managers to read quarterly reports from. I can’t recall ever seeing founder John Burbank on one of the financial networks before. He is a little different than the usual hedgie.
Below is him on Bloomberg. A summary of his comments are:
- Oil prices are a big problem.
- Central bank easing helps the Saudi market which is where Burbank has 15% of Passport’s capital invested, obviously a bullish bet on oil.
- Doesn’t see oil stopping until the economy breaks.
- Average consumer has had flat income for 10 years but costs keep increasing.
- Has been invested in Saudi Arabia for about three years and it is very difficult to get access to.
- Can’t buy Saudi stocks directly, but the Saudi market is trading at 11 times earnings with a 5% yield.
A Rare Treat – Passport Capital’s John Burbank on Bloomberg
Tickers in the article:
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Cowboy77 - 1 year ago
Thanks for posting.
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