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Patrick Wolff Bailey McCann, Opalesque New York:
Patrick Wolff is founder of Grandmaster Capital, the first hedge fund seeded by Peter Thiel. Thiel is a well-known Silicon Valley leader and investor. Grandmaster is a fundamentals based long/short equity manager with some macroeconomic analysis added in – a layer supported, in part, by Wolff’s relationship with Thiel. He recently spoke with Greg de Spoelberch for Opalesque TV on his outlook for 2013.
"The U.S. has relatively stable macroeconomic fundamentals, the U.S. economy is recovering, the U.S. can decouple to some degree from the rest of the world so long as there is not a full on 2008 style financial contagion, and it's a good place to look for businesses whose earnings are mostly tied to the United States," he says by way of explaining one of his current investing themes – fortress USA.
This theme highlights how the macroeconomic overlay Wolff applies to his equities strategy plays into which stocks he picks. He says right now, Grandmaster is focused on US-based, US revenue driven stocks over more global companies because the economic factors outside the US like Europe or the commodities super cycle are too risky.
Rather than just looking at the current macroeconomic context, Wolff goes out 150-200 years, looking at cycles over the very long term to come away with his insights. "In the last 150-200 years of emerging market growth, what you see is a...................... To view our full article Click here
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