Global pain will mean U.S. gain at least in terms of stock market investing, according to a strongly bullish analysis from Mario Gabelli and his team.
Investors will have a number of opportunities to take part in the American rebirth seen by executives at GAMCO, formerly known as Gabelli Asset Management, which manages $30 billion for clients. Those avenues include companies that specialize in luxury goods, health care and various aspects of technology, particularly data management and entertainment distribution.
"America right now is the crown jewel in the global investment landscape," Howard Ward, CIO of growth equities for GAMCO, said during a presentation at the Schwab IMPACT conference in Denver that included Gabelli and other company executives.
"We are benefiting from lower commodity prices, we have the best demographics in the developed markets. We have a manufacturing and energy renaissance ... and our relative bond yields are very attractive, which is going to continue to favor capital flight to the United States and favor the dollar."
Among the areas Ward said are appealing is the luxury goods sector, which has underperformed the broader market in 2014.