Phillippe Jabre Interview
Phillipe Jabre Speaks of Buying Opportunities in EuropePhilippe Jabre, a veteran hedge fund manager, sees many opportunities in Europe's debt crisis for buying underpriced assets. Jabre, the former manager of GLG, said in a recent interview that people are too concerned with the risk of buying failing European banks and slumping stocks. According to him, "It is a dream market for a stock picker."
The controversial former manger of GLG (GLG.N) -- one of London's biggest listed hedge funds -- said he thought investors remained overly risk-averse in a market with plenty of momentum in technology, autos, energy and industrial sectors.
"People are putting too high a probability on risk. They are too scared," he said in his office in Geneva, in one of the few interviews the famed arbitrager has given since he left London. "It is a dream market for a stock picker. It's great."
The hedge fund manager, whose Jabre Capital Partners runs around $5.5 billion in assets, said that governments around the world would eventually have to tackle their debt, which swelled after the 2008 credit crisis spurred costly state bail-outs of financial institutions.
While describing Greece's crisis as "a very bad problem," Jabre said he was confident "a consensual solution on how to address the debt" would be reached before long. Source