Here are some notes from a conference call with Jeff Auxier of the Auxier Fund.
Auxier Fund has a long term track record which compares decently with the S&P 500. It also lags for YEARS when the market is hot. Historically the fund has less risk than the S&P 500 too. I feel that Jeff Auxier is one of the mutual fund managers with deep insight into what is happening in the financial markets.
Europe currently has some bargains, which are now “hopelessly out of favor”. Long term, these are great opportunities.
The decline of oil prices is a $125 billion annual stimulus to the U.S. economy, a “major game changer”. We are “awash in energy globally”. We are also facing the potential of “massive deflation”. We should be careful that we don’t invest for oil bargains too early because these oil gluts can go on for years. My observation: in fact oil has a history of extreme volatility, and market forces tend to help bring oil prices down.