market folly

Anthony Scaramucci and Gary Kaminsky's Wall Street Week has continued its streak of impressive guests and this week interviewed Bruce Richards of Marathon Asset Management.

Marathon focuses on global credit and manages around $12.5 billion. He thinks US equity markets are looking at 3-5% returns going forward given the vast run up over the past few years.  Overall, he says "it's a difficult time to invest."

However, he sees some opportunities in Europe as quantitative easing is just getting started over there and economies are growing and banks are well healed.

He also sees some good plays in emerging markets in debt in Brazil, Argentina, Mexico and others.  Additionally, he's involved in Puerto Rico via playing the Puerto Rico Electric Power Authority (PREPA).

Richards also talked about position sizing, noting that 5% is their max, as they favor diversification and typically build 1-2% position sizes.

Embedded below is the Wall Street Week video with Bruce Richards:




And in this web extra video clip, they sit down with Bruce Richards again to give an updated look at Greece given all the activity there:



For more great interviews, head to Carl Icahn on Wall Street Week as well as Jim Chanos on Wall Street Week.