Santiago Ulloa Featured on CNBC: A Global Perspective on the Markets
August 31, 2020
Many investors have their eyes on U.S. markets, watching closely as the major indexes move on news of vaccines, Fed action and votes in Congress on stimulus support. However, investors who keep their attention stateside may be missing an opportunity in the European and Asian markets. For this global market perspective, CNBC’s “Halftime Report” team recently spoke with WE Family Offices Founder and Managing Partner Santiago Ulloa.
According to Ulloa, there are currently plenty of investment opportunities in both Europe and Asia. European markets, which have been out of favor with investors for several years, have recently staged a comeback as the European Union’s economic support has boosted both the economic recovery and European companies’ performance. While specific countries, such as Germany, have performed more strongly than others, Ulloa recommends diversifying throughout Europe, including within those harder-hit countries in the south where more value can be found.
For investors skeptical about European investments because of the Euro’s stronger position against the dollar, Ulloa eases concerns by explaining that what investors are really seeing is a weakening dollar rather than a strong Euro. “The dollar has been very strong for the last three years, and I think the cycle is changing right now,” explains Ulloa. He also notes that the European economy is recovering at a faster rate than the U.S. at the moment.
Meanwhile in Asia, while China frequently overtakes the financial headlines, Ulloa says there are other Asian markets that are better investments than the Asian powerhouse at the moment, such as Japan and Southeast Asia. However, it is important to not ignore China as domestic demand will likely continue to propel Chinese markets throughout the COVID-19 recovery. Ulloa also stresses that despite China’s strength in the technology sector, his focus remains on Asia’s private market.
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