The first panel discussion at the CNBC and Institutional InvestorDelivering Alpha conference saw a sharp, if polite, divide on the subject of Europe.
Peter Briger, principal and co-chair of Fortress Investment Group, said that European debt is "underpriced." Despite widespread worries about the future of the Eurozone, the risk premium on European credit assets still aren’t high enough, Briger argued.
“Financial services garbage collection will be a huge opportunity in the next five years,” Briger said. But not yet.
“Prices just aren’t interesting to us here,” Briger said.
Richard Perry, the chief executive of Perry Capital, thinks the time to start picking up the trash is now.