Lazard's Custis on Europe, U.K. Stocks & the Value Rotation

The transcript covers a comprehensive analysis of the UK and European markets, focusing on investment strategies, market performance, and the impact of currency fluctuations. It discusses the definition of value in investments, the potential of the European market, and the influence of Brexit. The conversation also touches on the IPO market, growth stocks, and the energy and commodity sectors, highlighting opportunities and challenges in these areas.

What is one reason the Footsie 100 might perform better than mid caps?

• Less market volatility

• More domestic earnings

• Lower currency impact

• Higher international exposure

Which factor is NOT considered when defining value in investments?

• PE ratio relative to history

• Price-to-book ratio

• Company's market share

• Price-to-cash flow

What is a potential reason for skepticism about European market recovery?

• Strong currency

• Vaccine rollout concerns

• High inflation rates

• Low GDP growth

Why might investors be cautious about investing in the UK post-Brexit?

• High inflation rates

• Uncertainty about trade conditions

• Strong currency

• Low GDP growth

What is a key factor in valuing energy stocks like BP?

• Company's market share

• Current oil prices

• Currency fluctuations

• Renewable energy potential

Which commodity is mentioned as having a deficit?

• Gold

• Copper

• Silver

• Aluminum

What is a potential impact of US consumers' excess savings?

• Lower commodity prices

• Decreased stock market investment

• Increased jewelry purchases

• Higher interest rates