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CanadianValue
CanadianValue
Articles (4622) 

A Rare Treat – Passport Capital’s John Burbank on Bloomberg

February 24, 2012 | About:

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.

About the author:

CanadianValue
http://valueinvestorcanada.blogspot.com/

Rating: 3.9/5 (11 votes)

Comments

Cowboy77
Cowboy77 - 4 years ago
Thanks for posting.

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