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Equity Market pricing an orderly Greek default
In a market update from Hans Peter Porter, fund manager of the Pictet Global Megatrend Selection fund, Hans felt that the equity markets are currently pricing in an orderly Greek default and placing a big premium on defensive stocks, such as regulated utilities, while over discounting riskier stocks, which presents an opportunity for fund managers.
Hans who manages a fund which invests in 9 mega-trends identified by Pictet, pointed out that any industry which is relying on subsidy will continue to face strong headwinds. He identified solar and wind companies as ones to avoid as well as infrastructure.
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