GO
Loading...

EU Crisis Obscuring Enormous Strength in Asia

If you’re among the growing throngs anticipating a global recession, top hedge fund manager Anthony Scaramucci would like a word.

He hit the road in an attempt to get a first hand look at economies of the world and he likes what he sees in Asia.

(In case you’re wondering, we’re not talking about some week-end road trip. His whirlwind tour has taken him to the financial centers of Asia including Beijing, Hong Kong, Seoul and Singapore.)

And in an exclusive conversation the managing partner of SkyBridge Capital tells us, “I think the strong fundamentals of Asia are being masked by what’s going on in Europe.”

After a string of conversations with top investors, Scaramucci says the lion’s share of S&P weakness seems to be generated by investor jitters about a worst case scenario rippling out of Europe.

But when all those scary headlines recede, Scaramucci believes the strong fundamentals of Asia will become the focus of the market.

In fact, he thinks that’s where the smart money is starting to focus right now.

According to proprietary research from SkyBridge that Scaramucci makes available to us exclusively, “two of the three best performing hedge funds are moving toward global trades and away from the US and Europe right now.”

And he doesn’t think it will be terribly long before more investors catch on. “In the fourth quarter I predict we see more asset allocation away from the mature markets and into Asia. I think we could see a lot of upside from here," he says.

* Anthony Scaramucci runs SkyBridge Capital, a leading alternative asset manager with more than $7 billion under management. Every week on Fast Money, Scaramucci, aka 'The Hedge' provides us with an unprecedented look inside the hedge fund community.



______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to fastmoney@cnbc.com.


Trader disclosure: On Sep 28, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Terranova is long VRTS; Terranova is long OXY; Terranova is long HOS; Terranova is long OIH; Terranova is long CVI; Terranova is long AXP; Terranova is long EMC; Terranova is long F; Terranova is long AMZN; Terranova is long WFC; Terranova is long AAPL; Terranova is long IBM; Terranova is long Silver puts; Terranova is long PCP; Terranova is long MS; Terranova is long GS; Terranova is long WFM; Grasso owns AKS; Grasso owns AMD; Grasso owns ASTM; Grasso owns BA; Grasso owns BAC; Grasso owns C; Grasso owns D; Grasso owns JPM; Grasso owns LIT; Grasso owns LPX; Grasso owns MAR; Grasso owns MHY; Grasso owns NDAQ; Grasso owns PFE; Grasso owns PRST; Grasso owns S; Grasso owns XHB; Grasso owns XLB; Grasso owns XLI

For Steve Grasso
Stuart Frankel & Co and it’s partners own CSCO
Stuart Frankel & Co and it’s partners own CUBA
Stuart Frankel & Co and it’s partners own FDX
Stuart Frankel & Co and it’s partners own GERN
Stuart Frankel & Co and it’s partners own HPQ
Stuart Frankel & Co and it’s partners own HSPO
Stuart Frankel & Co and it’s partners own JPM
Stuart Frankel & Co and it’s partners own MET
Stuart Frankel & Co and it’s partners own MSFT
Stuart Frankel & Co and it’s partners own MU
Stuart Frankel & Co and it’s partners own NYX
Stuart Frankel & Co and it’s partners own PFE
Stuart Frankel & Co and it’s partners own PRST
Stuart Frankel & Co and it’s partners own RHT
Stuart Frankel & Co and it’s partners own SDS
Stuart Frankel & Co and it’s partners own UAL
Stuart Frankel & Co and it’s partners own XRX
Stuart Frankel & Co and it’s partners are short QQQQ

For Kevin Kerr
Kerr is long XLB ETF Options
Kerr is long GLD ETF Options

For Jim Iuorio
Iuorio is long TBT
Iuorio is long TBT (calls)

For Larry Mcdonald
No disclosures

For Anthony Scaramucci
No disclosures

For Gene Munster
No disclosures

CNBC.com with wires.

Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET

Halftime Report