Lew Piantedosi, portfolio manager on our large cap growth equity team at Eaton Vance
Thu, 28 Jun 2012|
Lew Piantedosi, portfolio manager on our large cap growth equity team at Eaton Vance.
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Automatically Generated Transcript (may not be 100% accurate)
Stocks are selling off this morning the market's been open for about three minutes. And June it'll be really interesting in an hour. See the markets are on the basis of the health care decision coming out -- I think we're going to be glued to to. And yes all right that Dow opening up down 94 point aunts and -- out and NASDAQ is down 32. Excuse me -- US treasury at one point 59 down slightly cool. Is down 121565. There you know without across the board because deployments doppler because of the way as obamacare thing where it's the Obama care. And I think it's your. It's always still hear it when in doubt June to say it's your usually go to cocktail party this weekend at the stadium. What about the economies in Europe and that's they have to appear in a bad -- of this is what's wrong to say Europe yet here Europe's. -- They our guest is -- in Tbilisi he's a portfolio manager at -- Nancy joins us today Lou how are things very well thank Mary -- appreciate your time it would. -- eight I'm a little concerned. About the stock market for the next year and a half which your perspective why you think there's anybody to be made in stocks during the next eighteen months. I do like thinking yet is she is if you do if you can't take a longer term perspective. On -- market. You know we certainly had some some near term overpaying. As you mentioned European one of them. You know from the emerging market like China seem to be slowing down. A little bit which is concerning in the near term. And even the US recovery has been tepid at best. Which is is going to weigh on are our growth prospects going -- but I think it is you can take out. A longer view in an eighteen months in and you know even out to 345 years. I think US talks will be a good place to be and well. Part of a much more competitive return relative to fixed income and other areas of the market as well. Okay no Lou you're you your fund manager your stock -- -- -- what sectors of the stock market say you have got a listener and he's not a 100000 dollar sickening cash and he's saying okay. We he's listening to you he wants to know what sectors of the market provide investors with the best guarantee your best opportunities. Going -- Well -- it and the growth and investor what we're trying to identify is. Companies that or factors that are participating in what we'd like to identify it secular growth Trent yeah. And I think -- area where it -- the the best secular growth trends right now are within the technology. You know we've got and the huge trend. Such as mobile computing. Talking large cap tech or small cap mid -- Leo well I mean depending on your risk tolerant yup you know there's opportunities throughout that that Specter reminding. You know as technology changes so quickly I'm sure that companies that. You know you've got to reaching your working on in the garage right now that we don't we haven't even heard of that could be yet. A big player down the road but. You know I tend to focus on larger cap companies -- and I think there's plenty of opportunity. In some of those companies going forward. What are your largest told exit apple Google. FaceBook that we went in your mutual fund -- and stocks that you hold the most. Again it -- we do vote -- -- on secular growth trend that some of the best trend that we -- use the all and to kind of Internet related. Mobile computing Smartphone penetration things of that nature which we built it -- very early early stages -- names like apple yet a big part of our our portfolio. Qualcomm. Wage in the play on Smartphone penetration. Globally which is still -- then. Twenty but the point back at penetrate. How Google and and Amazon like -- came out with a new tablet do you think their tablet can compete with apple. Well I I think the android operating system which global. Is is Google proprietary operating as. And I think that is going to be tied neck and neck with apple. Operating and going forward -- yet -- as one of our larger positions as well an -- of the fact that I've valuations are pretty compelling and you level we think. These companies have great growth growth opportunity going port and you don't have to pay up to yet that and a growth prospects. And the thought of another name that that we like quite a -- do you and I mean Internet retail and you know in the early early stages had less than 5% of the total retail pie. And that I'm being -- leader in that statement building a -- globally that we think is. Yeah. You know what's their what's their growth rate now Lou the Amazon's you know -- You know and hit it in Nevada's growing air there revenues at a rate north of 30%. And yet they've been investing in their heavily investing in their business building had distribution pattern. And again building that mode though it hadn't flowed through to the bottom line -- earnings but we think over time that will in their earnings power is much much greater than. And most people recognize. It sure is all right well Lou I appreciate your time and thanks for your for joining us today on the financial exchange where. -- that's loopy and Tbilisi. He's a portfolio manager at Eaton Vance and graduate of Framingham state and an MBA at -- bright guy given -- a little bit of his time showed us some love here on the financial exchange.
