I was fortunate to catch the alumni panel on market trends which was o part of the Alumni Engagement Day at Bryant last Friday. On the panel were Thomas Tzitzouris – Director at Strategic Research Partners, Jason Former – Head of US FICC Trading and Portfolio Manager, Robert Milas – Professor at Babson College and Investment Strategist, Nico Santini – Senior Client Strategist and VP at New England Asset Management Inc., and Erica Vaters, VP of Compliance at Fidelity.
Robert P. Brown was the keynote speaker. Among other things, he has testified before Congress and had never bought a stock in his life. He also recently spent a year in Asia raising $10 billion for Fidelity! For his speech, Brown began by informing the audience that Bryant had the same number of traders on the floor at Fidelity’s Merrimack, New Hampshire office as an ivy league school, and that the traders from Bryant were doing a fantastic job at Fidelity.
He went on to ask a question about why equity has risen up over 100% over the decade but yet still GDP has averaged around 1%. His answer? Poor productivity and stagnant wage growth among other things.
He also provided a slide showing the Populist v. Establishment Struggles. The establishment was huge on tax cuts, free trade, regulation, spending and monetary policy. The populist were high on tax reforms, favored trade wars, building a wall, and deregulation.
I learned a lot from Brown and the crowd really appreciated his experience and insight.