PIMCO’s McCulley Presenting Forecast
By RAJIV VYAS
The chief economist for Newport Beach-based Pacific Investment Management Co. and other investment experts are set to offer outlooks for stocks, bonds and the economy at the Orange County Society of Investment Managers forecast dinner Thursday.
The dinner, the group’s second, is set for the Four Seasons Hotel Newport Beach at 5:30 p.m.
Paul McCulley, PIMCO’s managing director and chief economist, is set to speak. So are Tobias Levkovich, senior U.S. equity strategist at Salomon Smith Barney, and Laszlo Birinyi, global trading strategist for Deutsche Bank Securities.
“The speakers we are getting are very high level,” said John Prichard, president of the Orange County Society of Investment Managers and portfolio manager at Newport Beach-based Knightsbridge Asset Manage-ment LLC. “We have been very lucky.”
The group’s forecast differs from those of local universities in that it’s geared toward investors and looks at national and global economic trends and the stock market.
The three speakers are expected to talk for 20 to 30 minutes, presenting projections for the Dow Jones Industrial Average, the Nasdaq, the U.S. gross domestic product and interest rates for 10-year Treasury bonds.
The speakers also may offer their best “buy” recommendations and that their best stocks to short.
This year, the group tried to get a mix of strategists and economists to get different perspectives on investments, said Eric Kottke, program and committee chair for forecast dinner.
The group also plans to play back last year’s forecasts to see how they held up.
The Orange County Society of Investment Managers is group for money managers and other finance industry representatives started in 1993 by local investment professionals.
In 1997, the society became an affiliate of the Charlottesville, Va.-based Association of Investment Management & Research, a nonprofit group of investment professionals with more than 50,000 members that also offers the CFA program. In 2000, the Orange County group became an AIMR society, or local chapter.
