George Haligua, the past 5 years provided some of the best returns in the industry. The reclusive financier gives his take on everything from commodities to equity, oil and interest rates.
May 3, 2005 (Press Release) --
George Haligua, the past 5 years provided some of the best returns in the industry. The reclusive financier gives his take on everything from commodities to equity, oil and interest rates.
Montreal, Quebec, Canada (PRWEB via PR Web Direct) August 13, 2004 -- Over the past five years, George Haligua has provided some of the best returns in the industry. The reclusive financier gives his take on everything from commodities to equity, oil and interest rates in an exclusive interview with Hermes Bancorp.
Hermes Bancorp investors on the streets in downtown Montreal will recognize George Haligua as the unofficial godfather of growth. Not only has Mr. Haligua made piles of money for institutions and endowments, he also has fostered the careers of a new generation of exceptional growth investors.
Founder and chairman of Hermes Bancorp with $15 billion, under Management George Haligua built his career making gutsy calls and successfully identifying lots of Next Big Things. As a result, Hermes Bancorps flagship fund of investments has turned in performance that each year, on average, since its start in 1986, has left the Standard & Poors 500 and Nasdaq in the dust. This year, the old magic is working again, which is why it has always paid to stick with Haligua. Here's what hes thinking lately.
Q: HERMES: What's your outlook for the economy?
A: HALIGUA: My outlook for the economy is positive. We have an improving economy coming out of a recession. Companies have kept themselves quite lean, so any pickup in volume translates into higher margins and much faster growth and profits. The outlook for the economy is good, and for profits, it is very good.
Q: HERMES: Despite rising interest rates?
A: HALIGUA: There has been great concern among the investing public about rising interest rates, high oil prices, the psychological impact of Iraq and the uncertainty that an election can provoke. However, the economy has continued to rebound, and while interest rates certainly have made a long-term bottom and have turned upward, they are still at extraordinarily low levels -still the lowest in the last 40 years. There is room for interest rates to rise and yet remain at relatively low long-term levels.
Q: HERMES: Are you wary about deflationary conditions down the road?
A: HALIGUA: We are in a period of both inflation and deflation. This is rare. The deflationary forces are occurring in the work force as production from Asia occurs and goods are transported to the rest of world at relatively low prices. Overall it has prevented us from raising prices, particularly manufacturing prices. However, as the Asian economies remain expansionary and continue to increase, the demand for raw materials will continue at extraordinarily high levels. In the last 25 years, this segment of the world economy didn't experience big capital inflows, and consequently there is a relative supply shortage of most natural resources, as both China and India see their billion-people populations grow. This is an inflationary force countering lower labor costs. But one can question the statistics that are used in publishing inflation rates in the U.S.
Montreal, Quebec, Canada (PRWEB via PR Web Direct) August 13, 2004 -- Over the past five years, George Haligua has provided some of the best returns in the industry. The reclusive financier gives his take on everything from commodities to equity, oil and interest rates in an exclusive interview with Hermes Bancorp.
Hermes Bancorp investors on the streets in downtown Montreal will recognize George Haligua as the unofficial godfather of growth. Not only has Mr. Haligua made piles of money for institutions and endowments, he also has fostered the careers of a new generation of exceptional growth investors.
Founder and chairman of Hermes Bancorp with $15 billion, under Management George Haligua built his career making gutsy calls and successfully identifying lots of Next Big Things. As a result, Hermes Bancorps flagship fund of investments has turned in performance that each year, on average, since its start in 1986, has left the Standard & Poors 500 and Nasdaq in the dust. This year, the old magic is working again, which is why it has always paid to stick with Haligua. Here's what hes thinking lately.
Q: HERMES: What's your outlook for the economy?
A: HALIGUA: My outlook for the economy is positive. We have an improving economy coming out of a recession. Companies have kept themselves quite lean, so any pickup in volume translates into higher margins and much faster growth and profits. The outlook for the economy is good, and for profits, it is very good.
Q: HERMES: Despite rising interest rates?
A: HALIGUA: There has been great concern among the investing public about rising interest rates, high oil prices, the psychological impact of Iraq and the uncertainty that an election can provoke. However, the economy has continued to rebound, and while interest rates certainly have made a long-term bottom and have turned upward, they are still at extraordinarily low levels -still the lowest in the last 40 years. There is room for interest rates to rise and yet remain at relatively low long-term levels.
Q: HERMES: Are you wary about deflationary conditions down the road?
A: HALIGUA: We are in a period of both inflation and deflation. This is rare. The deflationary forces are occurring in the work force as production from Asia occurs and goods are transported to the rest of world at relatively low prices. Overall it has prevented us from raising prices, particularly manufacturing prices. However, as the Asian economies remain expansionary and continue to increase, the demand for raw materials will continue at extraordinarily high levels. In the last 25 years, this segment of the world economy didn't experience big capital inflows, and consequently there is a relative supply shortage of most natural resources, as both China and India see their billion-people populations grow. This is an inflationary force countering lower labor costs. But one can question the statistics that are used in publishing inflation rates in the U.S.
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