Other highlights from Citrone’s presentation include:
- He’s bullish on the currency and equity markets in India, Vietnam, Malaysia, Thailand, Indonesia and the Philippines calling them "solid growers" that have "very bright outlooks." They’re also benefiting from the U.S. trade war with China as a number of companies have shifted their supply chain away from China and to these nations.
- Citrone said that India’s Prime Minister Narendra Modi is business-friendly, that his administration is cutting corporate and individual taxes and is trying to clean up the state banking system. “If we had to pick one market of size to put assets to work, we think that’s a good place,” he said.
- On Europe, Citrone said he wouldn’t be surprised if Germany was in a recession next year, and he expects Chancellor Angela Merkel will be out of power in the next three to six months.
- There’s a 20% to 30% chance of Italy leaving the European Union over the next 18 months, he said. It is “the number one candidate” to potentially be next to exit “which could be a very significant global event.” He also expects Italy’s government to fall in the spring of 2020.
This article was provided by Bloomberg News.