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.
