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Pierre Lagrange: Investors Too Scared of Europe

Wednesday, 9 May 2012 | 1:17 PM ET

With a new and somewhat worrisome headlines surfacing out of Europe almost every day, Fast Money jetted to the SALT Investor Summit in Last Vegas to bring you insights from the absolute best.

Among the very first big money managers we spoke with was top hedge fund manager, Pierre Lagrange the co-founder of GLG Partners with $28 billion under management

He tells us, American investors are too scared of Europe. Despite all the negative headlines – he thinks there’s a good chance that Europe comes through the current malaise just fine.

“I don’t think Europe will unravel totally,” he says. “I do think we will have a solution for Greece in terms of exiting – and a refinancing of the rest so it can go on.”

And although he concedes there is the potential for a mess -- “If you put the right safety net around Portugal, Spain and Italy, I could make a case that the exit of Greece is good.”

But he says, the headlines are leaving investors almost immobilized.

“People are overlooking alternatives because they’re so scared of Europe,” he says. “But there are plenty of other things to do.”

Now that doesn’t mean LaGrange is an unbridled bull – he’s not.

He tells us the name of the game is simply – “stay out of trouble,” which we take to mean pick and choose investments carefully. Even in the current environment he says establish a thesis and then follow your conviction. “Personally, I love to be buying assets and resources,” he says.

Volatility Reigns on Macro Worries
The S&P 500 is bouncing back from session lows, but still down for the day, and concerns over the euro zone continue. Sharing perspective on the markets, with Anthony Scaramucci, SkyBridge Capital founder; Pierre Lagrange, GLG Partners co-founder; Pete Najarian, TradeMonster.com co-founder; and CNBC's Scott Wapner.



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Trader disclosure: On May 9, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Anthony Scaramucci is long AAPL; Anthony Scaramucci is long BAC; Anthony Scaramucci is long GS; Anthony Scaramucci is long IBM; Anthony Scaramucci is long PEP;
Pete Najarian is long AAPL; Pete Najarian is long C; Pete Najarian is long MS CALLS; Pete Najarian is long INTC; Pete Najarian is long INTC CALLS; Pete Najarian is long YHOO; Pete Najarian is long SBUX; Pete Najarian is long SBUX CALLS; Pete Najarian is long PEP




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