Pessimism Will Return Once QE Effects Wear Off: Saemor Capital
Saemor Capital BV, which runs the long/short Europe Alpha Fund, is pessimistic about the global markets in the coming months, chief investment officer Sven Bakker said.
“We can see that people are optimistic about all the quantitative easing around the world,” Bakker said in a telephone interview. Now that “all of the QE announcements are behind us, I don’t see a lot of good news coming out, other than maybe some U.S. housing rebound,” he said. “And there are not a lot of ways to play that in Europe.”
The markets “continue to be driven more by politicians than fundamentals,” the firm said in its August performance report. “Macro events are also expected to dominate the headlines in September and October.”