Market's in a ‘Dramatic’ V-Shaped Recovery: Portfolio Manager
CNBC.com Writer
We are in a dramatic V-shaped recovery, said Michael Browne, portfolio manager of Sofaer Global.
“In manufacturing terms, this is the first time we’ve had this instance to be able to take down the inventory as quickly, aggressively and speedily as people did,” Browne told CNBC.
“We didn’t have that ability to react in 1991 to 1993 in the way we can react today.”
More Market Optimism:
Browne said based on world demand levels, he expects to see an increase in production.
“[For example] if I hold demand constant...overall, world demand is up a little bit and I cut production by 40 percent, which is what people are doing,” he said. “Then on the other side of that, I’ve got to raise production 35 percent—mathematically more like 45 percent—so of course it’s a V-shaped recovery.”
Disclosure:
No immediate information was available for Browne or his firm.
______________________________
CNBC Slideshows:
______________________________
______________________________
CNBC's Companies in the News:
Microsoft
Yahoo
- Microsoft, Yahoo Agree on Long-Sought Search Deal
Citigroup
- Government to Take 34 Percent Stake in Citi
Ford Motor
Sprint Nextel
______________________________
