CNBC Europe Interviews Brian Singer
June 3, 2014
Brian Singer, partner and co-portfolio manager of the William Blair Macro Allocation Fund, discusses how the use of game theory within broader fundamental analysis helps address geopolitical events that influence the markets on CNBC Europe
’s “Worldwide Exchange” program. He highlights how recent parliamentary elections in Europe are supportive of Spanish and Italian equities.
“The primary influences on the European parliamentary elections have been the influence of austerity, low inflation, and in some instances in the peripheral countries disinflation, that have led to more radical, populist parties winning,” says Singer . “That changes the dynamic as we go forward with respect to how each of the countries will act in negotiations.
Singer believes Germany will be more accommodative in their negotiations and the European Central Bank will also be more accommodative in its monetary policy. “These are powerful supporters of Spanish and Italian equities, and we think undermines the strength of the Euro,” says Singer.
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The opinions and forecasts expressed in the following interview are those of Brian Singer as of June 3, 2014, and may not actually come to pass. This information is subject to change at any time based on market and other conditions and should not be construed as investment advice or a recommendation of any specific security. Not all securities held in any William Blair strategy portfolio performed as favorably as those discussed, and there is no guarantee that these or other securities will perform favorably in the future. Investments are subject to market risk.
Game Theory: Events, geopolitics, and policy changes affect market prices. Game theory, which considers the interests and incentives of governmental and economic leaders, provides a framework for making sense of geopolitical and macroecomonic developments.
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