Publication: The Wall Street Journal Date: August 13, 2010 Headline: Unica surges; Red Robin shot down Expert: Rob Lutts Link: http://bit.ly/dxxFdJ Abstract: Steven Russolillo of The Wall Street Journal talks with Rob Lutts, CIO and president of Cabot Money Management, about investors continued worries about the economic recovery. "Investors are in the bunker today, and they're hiding. Investors are very wary of risk today. This is symptomatic of where we are in the economic cycle. There's no doubt about it, the economy is not in fast drive," Lutts says.
Publication: CNN Money Date: August 13, 2010 Headline: 10 year yield hits 16-month low Expert: William Larkin Link: http://bit.ly/cX33YP Abstract: Blake Ellis of CNN Money speaks with William Larkin, fixed-income portfolio manager at Cabot Money Management, about the 10-year yield hitting a 16-month low as worries about an economic slowdown lingered and investors remained cautious. "The belief that we're in this stagnating growth phase, which is based on the idea that higher taxes and more uncertainty are going to limit growth, makes the Treasury market a lot more attractive," said Larkin.
Publication: CNBC Squawk on the Street Date: August 6, 2010 Headline: Big plays in small caps Expert: Les Satlow Link: http://bit.ly/czmlXH Abstract: Mark Haines of CNBC Squawk on the Street talks with Les Satlow, portfolio manager at Cabot Money Management, about his small cap picks. "You always want to have a certain proportion of your asset allocation in the small cap space. This allows you to identify very narrow investment themes and find pure plays in the small cap space that you can't find among most large caps." Satlow says.
Publication: Bloomberg Businessweek Date: August 5, 2010 Headline: U.S. stocks retreat on unexpected increase in jobless claims Expert: Rob Lutts Link: http://bit.ly/d6uTy3 Abstract: Elizabeth Stanton of Bloomberg Businessweek turns to Rob Lutts, CIO of Cabot Money Management, for his insight on the effect of the labor market and the recent decline in U.S. stocks on the economic recovery. "People are worried that the economy is going to slide back into negative growth, which would make it much more challenging to keep the earnings up. What we are seeing is spending on capital, which is going to eventually result in hiring, but it's going to take some time," says Lutts.
Publication: Reuters Date: August 2, 2010 Headline: BP hopes to 'kill' well as SEC probes trading Expert: Rob Lutts Link: http://bit.ly/aaUKw1 Abstract: Rachelle Younglai and Kristen Hays of Reuters talk with Rob Lutts, CIO of Cabot Money Management, about the SEC investigation for insider trading of BP stock and BP's attempt to permanently stop the flow of oil into the Gulf. "BP can do no right by anybody and the U.S. government today -- it's not surprising they're trying to throw the whole book at BP for anything they can," says Lutts. "Investors are focused on BP's 'static kill' attempt. The stock has rallied since they may finally have a 'cap' to their problems. Now if we get a permanent fix, shareholders will be much more pleased going forward."
Publication: Reuters Date: August 2, 2010 Headline: Analysis: Waning inflation views redraws bond market bets Expert: William Larkin Link: http://bit.ly/c7fUwa Abstract: John Parry of Reuters speaks with William Larkin, fixed-income portfolio manager at Cabot Money Management, about the expected muted inflationary environment. Larkin is among those preparing for the possibility inflation will rise due to the trillions of dollars of government issued debt during the financial crisis. Larkin is interested in step-up bonds which "are a good hedge against inflation if inflation and interest rates start to rise, provided the issuer has not called or redeemed the security by then," he says.
JULY 2010
Publication: Bankrate.com Date: July 30, 2010 Headline: Can bonds replace CDs? Expert: William Larkin Link: http://bit.ly/a4iRM8 Abstract: Sheyna Steiner of Bankrate.com sits down with William Larkin, fixed-income portfolio manager at Cabot Money Management, to discuss moving investments from CDs to corporate bonds as CD rates have hit record lows. Larkin suggests focusing on mega-brand companies to mitigate the risk of default. "Some of these companies probably have the most cash that they've had in a long time which should make bond holders more comfortable. And they have market positions that are dominant. We're talking about low-risk investments," says Larkin.
Publication: Bloomberg Businessweek Date: July 29, 2010 Headline: Treasury yields near week's low on concern growth Is slowing Expert: William Larkin Link: http://bit.ly/bjCsqf Abstract: Wes Goodman of Bloomberg Businessweek talks with William Larkin, fixed-income portfolio manager at Cabot Money Management, about the current appeal of fixed-income securities in light of reports indicating a softer outlook for economic growth. "People are looking at safety. The fear trade is still alive and well,' says Larkin.
Publication: New York Times Date: July 28, 2010 Headline: Shares fall as data says the economy is weakening Expert: William Larkin Link: http://nyti.ms/bt0jgc Abstract: The New York Times features Fixed-Income Portfolio Manager William Larkin's conversation with Wes Goodman of Bloomberg Businessweek. Larkin speaks about the current appeal of fixed-income securities after reports indicating a softer outlook for economic growth were released. "People are looking at safety. The fear trade is still alive and well," says Larkin.
Publication: Bankrate.com Date: July 28, 2010 Headline: Currency-linked CDs: too good to be true? Expert: William Larkin Link: http://bit.ly/cnQZmV Abstract: Sheyna Steiner of Bankrate.com looks to William Larkin, fixed-income portfolio manager at Cabot Money Management, for his insight on indexed CDs. CDs are complicated as there are hidden commissions, are expensive to trade, and require money to remain tied up until maturity. Larkin suggests "a better way to invest in currency might be through mutual funds or ETFs. Currency falls under alternatives because it's not correlated to stocks and bonds, it does have a lot less volatility than an emerging markets fund, both debt and equity."
Publication: Bloomberg Date: July 26, 2010 Headline: Anadarko leads energy bonds in biggest gains as BP rallies: Credit markets Expert: William Larkin Link: http://bit.ly/bVeRtB Abstract: John Glover and Kate Haywood of Bloomberg sit down with William Larkin, fixed-income portfolio manager at Cabot Money Management, to discuss the advance of energy bonds in the wake of BP capping the oil previously spewing into the Gulf, and the higher demand for petroleum in the global economic recovery. "I looked at BP and said this is a great opportunity, it's really suited to a high-risk portfolio. There's a whole spectrum of different energy companies which are crucial to the economy now that event risk is priced into the market place," says Larkin.
Publication: CNBC.com Date: July 23, 2010 Headline: Prep your portfolio for next week: strategists Expert: Dennis Wassung Link: http://bit.ly/aZb1Xw Abstract: JeeYeon Park of CNBC.com speaks with Dennis Wassung, portfolio manager at Cabot Money Management, about his stock picks. One pick he shares is Acme Packet. "Mobile data is the secular growth theme. One of the key ways to play in the technology space is the infrastructure required to take care of these massive demands on mobile data, from things like iPad, iPhone, and the new android phones" says Wassung.
Publication: CNBC "Squawk on the Street" Date: July 23, 2010 Headline: The Friday trade Expert: Dennis Wassung Link: http://bit.ly/anH0xW Abstract: Mark Haines of CNBC Squawk on the Street turns to Dennis Wassung, portfolio manager at Cabot Money Management, for his insight on what investors should be buying and selling before the week ends. "Retail is a sector that has been punished more since the market peaked in April. There is a sentiment shift here as people are worried about the consumer in the second half of the year. I think the consumer is going to be resilient, the economic data will support the market moving higher and retail will perform well," says Wassung.
Publication: Investor's Business Daily Date: July 21, 2010 Headline: Baidu profit, sales beat expectations; market share rises Expert: Rob Lutts Link: http://bit.ly/bikcUp Abstract: Pete Barlas of Investor's Business Daily speaks with Rob Lutts, CIO of Cabot Money Management, to discuss how Baidu has gained market share in China as its most direct competition, Google, has struggled with censorship issues. "We're hearing that lots of (advertisers) are putting all of their new projects into Baidu's camp rather than Google. Google had a very confusing message to the public," says Lutts.
Publication: MSN Money Date: July 20, 2010 Headline: What's Facebook really worth? Expert: Dennis Wassung Link: http://bit.ly/cx6rCE Abstract: Michael Brush of MSN Money discusses the possibility of Facebook going public and whether buying would be a good idea with Dennis Wassung, portfolio manager at Cabot Money Management. Wassung compares Facebook to Tencent, the publically traded social-networking site of China worth $32 billion. Facebook may be worth a similar amount as the popularity of the site increases. "People are really shifting to sites like Facebook and Tencent in China. They are really changing the way they are using the Internet," says Wassung.
Publication: The Bond Buyer Date: July 16, 2010 Headline: BAB spreads blast outward Expert: William Larkin Link: http://bit.ly/dkIcA5 Abstract: Dan Seymour of the Bond Buyer discusses the slowing of investor acceptance of Build America Bonds as well as their recent increase in spread and yield rates with William Larkin, fixed-income portfolio manager at Cabot Money Management. Larkin says a number of things are keeping BAB spreads at higher rates. The elevated rates are fine by him because he is a buyer at these yields. Larkin believes bad press, poor disclosure, and the uncertain renewal of the programs are some reasons keeping buyers out of the market.
Publication: Reuters Date: July 15, 2010 Headline: Gold largely flat on U.S. data Expert: Rob Lutts Link: http://bit.ly/crIFXQ Abstract: Frank Tang of Reuters looks to Rob Lutts, CIO of Cabot Money Management, for his insight regarding the probability of gold prices increasing in the long term following economic concern among institutional investors. "In the end, profit-sharing plans, 401(k) (retirement plans) and larger institutions like Calpers would be allocating larger amount to gold than they are today," says Lutts.
Publication: The Boston Globe Date: July 15, 2010 Headline: Some turning to law firms to invest funds Expert: William Larkin Link: http://bit.ly/d8Oagh Abstract: Kit Chellel of the Boston Globe discusses the recent trend of wealthy New Englanders trusting their investments to be managed by law firms as opposed to traditional brokers and financial institutions with William Larkin, fixed-income portfolio manager at Cabot Money Management. Larkin says many wealthy individuals took their money out of big investment firms after the wake of the banking crisis. "People were looking for solutions. They were afraid of going into the market, and they were a bit wary of the likes of Goldman Sachs, Merrill Lynch, and Morgan Stanley," says Larkin.
Publication: Associated Press Date: July 14, 2010 Headline: Stocks are mixed after weaker Fed economic outlook Expert: Rob Lutts Link: http://bit.ly/bWCaOi Abstract: Stephen Bernard of the Associated Press speaks with Rob Lutts, CIO of Cabot Money Management, about the Federal Reserve's recent report indicating a weaker economic forecast. Lutts acknowledges the Fed's statement contains no real surprises, yet investors remain cautious due to last week's rally and because many corporate earnings reports remain ahead. "It's been a very strong last three or four days. And at this point valuations are a little higher and a little more of a challenge," he says.
Publication: Reuters Date: July 13, 2010 Headline: WRAPUP 6-BP to test new cap to stem oil flow, US shares recover Expert: Rob Lutts Link: http://bit.ly/d4M9OX Abstract: Kristen Hays of Reuters talks with Rob Lutts, CIO of Cabot Money Management, about BP's two most recent moves affecting their market price. BP's announcement that they plan to sell some non-core assets to help pay for the clean up, and their current attempt to stop the flow of oil leaking into the Gulf have lead to a marginal increase in their stock price, currently selling at $36.88 in the US. "Let's not forget the stock was $28 six or seven days ago. It was overbought shorter term relative to the potentially improving fundamental situation," Lutts says.
Publication: Bloomberg Date: July 10, 2010 Headline: Treasuries tumble, pushing up 10-year note yields by most in three months Expert: William Larkin Link: http://bit.ly/9H6ALM Abstract: Susanne Walker and Daniel Kruger of Bloomberg look to William Larkin, fixed-income portfolio manager at Cabot Money Management, for his insight regarding the recent move of hedge-fund managers from a net-long position to a net-short position in US commodity futures. "Gauging a recovery is difficult. Things always improve, but it's the timing that's the hard part," says Larkin.
Publication: The Salem News Date: July 7, 2010 Headline: Q&A: Economist Lutts weighs spending vs. saving Expert: Rob Lutts Link: http://bit.ly/aJzV7b Abstract: Alan Burke of the Salem News sits down with Rob Lutts, CIO of Cabot Money Management, to discuss government involvement in the economy and the differing economic philosophies of spending and saving. "A lot of economists believe that the government should help the economy get off the ground. When we get in a recession government should act. They believe you spend and get into deficit and then you create jobs. And then you pay down the deficit and everything's fine," says Lutts.
Publication: Bloomberg BusinessWeek Date: July 3, 2010 Headline: Nasdaq-100 Index posts record losing streak as Microsoft slumps Expert: Rob Lutts Link: http://bit.ly/9VS6Rt Abstract: Lu Wang and Rita Nazareth of Bloomberg discuss the recent downward trend of technology companies and their impact on the Nasdaq-100 Index with Rob Lutts, CIO of Cabot Money Management. "We're in a psychological bear market. The recent economic setback is significant," and investors are preparing for companies to lessen their forecasts in the upcoming weeks, Lutts says.
Publication: BusinessWeek Bloomberg Date: July 2, 2010 Headline: Wal-Mart, Delta sell debt as issuance falls in ‘nervous’ market Expert: William Larkin Link: http://bit.ly/diouud Abstract: Tim Catts of Bloomberg speaks with William Larkin, fixed-income portfolio manager at Cabot Money Management, about Wal-Mart paying 53 basis points more than similar-maturity Treasuries on its notes due in 2015, compared with the 45 basis point spread it received when it sold $750 million of five-year debt as part of its $2 billion offering in March. “Wal-Mart just happens to be an extremely financially strong company, and they’re doing what a lot of financially strong households will be doing, and that’s refinancing their mortgages,” says Larkin.
Publication: CNBC Street Signs Date: July 1, 2010 Headline: Summer Stock Picks Expert: Rob Lutts Link: http://bit.ly/b5tZEa Abstract: Erin Burnett of CNBC Street Signs sits down with Rob Lutts, CIO of Cabot Money Management, to discuss the best investment opportunities as the markets enter the second half of 2010. Lutts suggests investors consider HDFC Bank, a top performing, private sector bank in India. "India's economy looks every solid, and this is a great way to play that growth in their economy. It will experience about 6-8% growth in the next few years," he adds.
JUNE 2010
Publication: MarketWatch Date: June 29, 2010 Headline: LatAm stocks hit as investors fret about global growth Expert: RobLutts Link: http://bit.ly/dzhpUK Abstract: Carla Mozee of MarketWatch discusses the uncertainty felt over the strength of the global recovery process with Robb Lutts, CIO and president of Cabot Money Management. The “data that I look at continues to be very constructive. Auto sales, retail, travel statistics continue to be healthy and brisk, and indicate that the data is not forecasting a dramatic slowdown,” says Lutts regarding his belief in the unlikelihood of a double-dip recession occurring.
Publication: Bloomberg Businessweek Date: June 24, 2010 Headline: Fees exceed maximum yields on 'Black Box' reverse convertibles Expert: William Larkin Link: http://bit.ly/aMxp7G Abstract: Zeke Faux of Bloomberg Businessweek speaks with William Larkin, fixed-income portfolio manager at Cabot Money Management, about his views on investing in reverse convertibles, which generally pay a higher interest rate than corporate bonds and include risky down-and-in options. "That interest rate is going to instantly get my attention. But if I buy a bond, I'd rather get a fixed rate for a fixed term, rather than buying a black box with different contracts," says Larkin.
Publication: CNNMoney.com Date: June 15, 2010 Headline: Treasurys fall as euro strengthens Expert: William Larkin Link: http://bit.ly/ctjAzf Abstract: Hibah Yousuf of CNNMoney speaks with William Larkin, fixed-income portfolio manager at Cabot Money Management, about the impact of a strengthening euro and anticipated economic reports on investor appetite. "We have a heavy economic calendar this week, and there's still a lot of uncertainty and volatility embedded in the marketplace. We have traders on both sides trying to calculate a direction for the markets," says Larkin.
Publication: Wall Street Journal Date: June 14, 2010 Headline: Alternative Investing Expert: William Larkin Link: http://bit.ly/9bMwo7 Abstract: Gregory Zuckerman of The Wall Street Journal discusses how investors can buy bonds from nations with strong growth outlooks and limited debt with William Larkin, fixed-income portfolio manager at Cabot Money Management. "The best method to gain access to these specific markets is either through exchange-traded funds, mutual funds or closed-end mutual funds," says Larkin.
Publication: Bloomberg Businessweek Date: June 11, 2010 Headline: Corporate Bond Sale Slump in U.S., Rise in Europe (Update 1) Expert: William Larkin Link: http://bit.ly/bqb82w Abstract: Craig Trudell and Caroline Hyde of Bloomberg Businessweek speak with William Larkin, fixed-income portfolio manager at Cabot Money Management, about Europe's debt crisis and the lower-than-estimated US job growth, which have fueled investor skepticism over the economic recovery. "You've got investors changing their minds very rapidly, and that's never a great indication of economic health. We have a bond market that's extremely expensive, and that combination makes people like myself nervous," Larkin says.
Publication: Bloomberg Businessweek Date: June 10, 2010 Headline: Financial Stocks: Why the Rebound Has Stalled Expert: Rob Lutts Link: http://bit.ly/b3ZUrc Abstract: Ben Steverman of Bloomberg Businessweek speaks with Rob Lutts, CIO and president of Cabot Money Management, about the impact of the upcoming financial reform on Wall Street. Many investment managers are avoiding the financial sector as it is difficult to predict what will be in the bill and how the bill will be implemented. "For the average bank, I don't think it will have a huge impact," says Lutts, who is buying financial stock.
Publication: FOXBusiness Date: June 9, 2010 Expert: Rob Lutts Link: http://bit.ly/bTD4iT Abstract: Cheryl Casone of FOXBusiness sits down with Rob Lutts, CIO and president of Cabot Money Management, to discuss the need for investors to allocate a larger portion of their portfolios to emerging economies. "These countries are really profitable, in most instances most individuals don't appreciate that the profit margins of many of these emerging market countries are double those of the U.S.," says Lutts.
Publication: The Salem News Date: June 9, 2010 Headline: Pozen poses ways to fix our ailing financial system Expert: Rob Lutts Link: http://bit.ly/cghnWz Abstract: Ethan Forman of the Salem News talks with Rob Lutts, CIO and president of Cabot Money Management, about author Robert Pozen's proposed ideas to fix the U.S. financial system, including targeting tax credits for job creation and limiting the growth of budget deficits. "I'm going to read his book. I wish the people in Washington could listen to those ideas," says Lutts.
Publication: CNN Money Date: June 4, 2010 Headline: Treasurys lifted by jobs report, euro zone worries Expert: William Larkin Link: http://bit.ly/9QHLHy Abstract: Blake Ellis of CNNMoney discusses how the euro’s weakness, coupled with the disappointing jobs report, raised Treasury prices with William Larkin, fixed-income portfolio manager at Cabot Money Management. “We had all this economic momentum, and things had been improving, but we've come into this rough spot recently with such market turbulence. The best option right now is a flight to quality, which is to either U.S. Treasurys or the U.S. dollar,” says Larkin.
Publication: US News and World Report Date: June 3, 2010 Headline: Mutual fund fees: How much is too much to pay? Expert: Rob Lutts Link: http://bit.ly/aMOu4I Abstract: Katy Marquardt of US News and World Report discusses what people should look for when comparing expense ratios of mutual funds with Rob Lutts, CIO of Cabot Money Management. “If [expenses are] higher than 2 percent, you should probably be finding a new provider,” says Lutts.
MAY 2010
Publication: Wall Street Journal Date: May 29, 2010 Headline: Russell 2000 posts its worst May but is up in 2010 Expert: Rob Lutts Link: http://bit.ly/aLFccY Abstract: Kristina Peterson of the Wall Street Journal talks with Rob Lutts, CIO and president of Cabot Money Management, about the 7.67 percent drop in the Russell 2,000 in May due in large part to euro-zone worries. "Prior to the May 6 plunge, expectations were fairly positive and lots of rosy thinking prevailed. What's happened in Europe and the focus on Greece and Spain have changed that," says Lutts.
Publication: CNN Money Date: May 21, 2010 Headline: Treasury yields bounce back Expert: William Larkin Link: http://bit.ly/b5YbSD Abstract: Hibah Yousuf of CNN Money talks with William Larkin, fixed income portfolio manager at Cabot Money Management, about the impact of the European debt crisis on U.S. government securities. “As Europe focuses to address its spending and debt issues, investors' fears about deflation are rising and their uncertainty will feed into the Treasury market,” says Larkin.
Publication: Reuters Date: May 21, 2010 Headline: Goldman shares rise on false SEC settlement rumor Expert: William Larkin Link: http://bit.ly/cMEN1f Abstract: Clare Baldwin of Reuters interviews William Larkin, fixed income portfolio manager at Cabot Money Management, for this opinion on the Goldman Sachs shares rising due to a false rumor. Larkin asserts that Goldman’s stock has been oversold. “Goldman has been oversold, and the bonds have been widening pretty substantially the last couple days,” Larkin said.
Publication: Bankrate.com Date: May 19, 2010 Headline: Advantages and pitfalls of CDs Expert: William Larkin Link: http://bit.ly/d6NoDn Abstract: Sheyna Steiner of Bankrate.com turns to William Larkin, fixed income portfolio manager at Cabot Money Management, for his insight on certificates of deposit in current markets. "Many of the corporate bond investments, short-term, high-grade, have done very well and the returns are two to three times (that of Treasuries and CDs) so if you look at the risk that is a risk worth taking in this market,” says Larkin.
Publication: Bloomberg Date: May 14, 2010 Headline: Morgan Stanley, Citigroup sell debt as bank insurance returns Expert: William Larkin Link: http://bit.ly/bZ23ow Abstract: Craig Trudell of Bloomberg speaks with William Larkin, fixed income portfolio manager at Cabot Money Management, about the biggest increase of sales of US corporate bonds in 2010. Bank issuance surged because of rising investor appetite for safe assets and financial companies’ needs to refinance debt maturing in the short term, says Larkin. “Market conditions are perfect for banks because the yield curve favors them. With the recent turmoil in Europe, we’re likely going to be in a sustained low-yield environment and continue to see voracious appetite for the safety of fixed income,” he adds.
Publication: Bloomberg Date: May 13, 2010 Headline: US stocks fall, led by banks on bond investigation Expert: Rob Lutts Link: http://bit.ly/a52XHJ Abstract: Bloomberg’s Elizabeth Stanton turns to Cabot Money Management’s CIO and president Rob Lutts for his input on the “flash crash” in early May when the market plummeted nearly 1,000 points in just minutes. “We’re probably in a trading range until there is more guidance from companies that will move up to a substantially higher level of earnings. We’re not seeing that from many companies,” says Lutts.
Publication: US News and World Report Date: May 13, 2010 Headline: 7 valuable lessons for investors Expert: Rob Lutts Link: http://bit.ly/9U0Vvh Abstract: Katy Marquardt from US News and World Report speaks with Rob Lutts, CIO and president of Cabot Money Management, about important and timeless lessons for all investors keep in mind. Lutts says if your portfolio leans heavy on the S&P 500 index it is time to revisit your choices. “A lot of investors don't think about change. Some are just investing in everything that's big, and big is not always great. Globally, there's a new growth generator in our economy. It's not the U.S. and Europe anymore; it's emerging economies,” says Lutts.
Publication: CNBC “The Call” Date: May 10, 2010 Headline: Alternative energy investing Expert: Les Satlow Link: http://bit.ly/clWptU Abstract: Les Satlow, portfolio manager at Cabot Money Management, is featured on CNBC The Call to provide his insight on alternative energy investing. Satlow says there is long-term growth for solar stocks even if oil prices reach fifty dollars. He also offers that the more U.S. government legislation would propel stocks higher if the incentives were there.
Publication: Associated Press Date: May 9, 2010 Headline: Investors' resolve tested by plunge, European debt Expert: Rob Lutts Link: http://bit.ly/9Pz2Vf Abstract: Dave Carpenter of the Associated Press looks to Rob Lutts, CIO and president of Cabot Money Management for his input regarding market turbulence after Wall Street tumbled nearly 1,000 points in only a few minutes. "Nerves are frayed and fragile and exposed right now. The market is under the control of the short-term investor. Longer-term investors are sitting on the sidelines," says Lutts.
Publication: CNNMoney Date: May 6, 2010 Headline: Goldman braces for shareholder fury Expert: Les Satlow Link: http://bit.ly/apVhhM Abstract: Dave Ellis of CNN Money talks with Les Satlow, portfolio manager at Cabot Money Management, about Goldman Sach’s annual shareholder meeting following recent accusations by the SEC. "There are going to be some angry shareholders, no doubt. Some of them will want blood from management…If they are wise, they will be as candid as they can and let shareholders vent,” says Satlow.
Publication: USA Today Date: May 6, 2010 Headline: Dow plummets 900 points amid crisis over Greek debt, closes down 348 Expert: William Larkin Link: http://bit.ly/9kXnJ8 Abstract: Doug Stanglin of USA Today features insight from William Larkin, fixed income portfolio manager at Cabot Money Management, regarding panic on Wall Street in response to Europe’s banking crisis. There is increased nervousness and "banks are weakening. Banks and the governments have been working together. It looks like that relationship is weakening," says Larkin. If this happens and banks aren't able to raise capital, "they are worried that, if this crisis stays, it will weaken the capital markets further,” he adds.
Publication: Wall Street Journal Date: May 6, 2010 Headline: Spooked investors cause dislocations Expert: William Larkin Link: http://bit.ly/cK7i57 Abstract: William Larkin, fixed income portfolio manager at Cabot Money Management, is featured in an article about investor confidence in the European banking system by Prabha Natarajan of the Wall Street Journal. "Banks and the governments have been working together. It looks that since their relationship is weakening,” Larkin says. If this happens and banks aren’t able to raise capital, “they are worried that, if this crisis stays, it will weaken the capital markets further,” he adds.
Publication: USA Today Date: May 5, 2010 Headline: "'Insured' municipal bonds: The insurance is suspect these days" Expert: William Larkin Link: http://bit.ly/9b5JxB Abstract: Matt Krantz of USA Today looks to William Larkin, fixed-income portfolio manager at Cabot Money Management, for his advice to investors considering municipal bonds. Larkin offers that there is more faith in the insurers of municipal bonds lately, but not overwhelmingly so. He adds that he views municipal bonds with high yields with “great suspicion.”
Publication: The Wall Street Journal Date: May 5, 2010 Headline: "Global markets swoon over Euro zone debt concerns" Expert: William Larkin Link: http://bit.ly/bTx7JP Abstract: Anusha Shrivastava of The Wall Street Journal speaks with William Larkin, fixed-income portfolio manager at Cabot Money Management, about his insight on debt situation in Greece. "There is a contagion going on. The flight-to-quality will stay in place. We are at the bottom of the recent trading range in Treasurys," Larkin says.
Publication: MarketWatch Date: May 4, 2010 Headline: Mexico, Brazilian stocks fall sharply as Greece fears soar Expert: Rob Lutts Link: http://bit.ly/a72HAD Abstract: Carla Mozee of MarketWatch turns to Rob Lutts, CIO and President of Cabot Money Management, for his insight regarding Greece debt problems and its impact on markets worldwide. “The Greece situation is making people nervous, and my feeling on the (financial) package is that it's a band-aid. We're going to be back here in three to six months," says Lutts.
APRIL 2010
Publication: CNBC.com Date: April 16, 2010 Headline: For some investors, another reason to distrust Wall Street Expert: Rob Lutts Link: http://bit.ly/90yq0G Abstract: Jeff Cox of CNBC.com speaks with Rob Lutts, CIO and president of Cabot Money Management, about how the fraud accusations against Goldman Sachs will likely add to the mistrust among investors that Wall Street is rigged against them. "That's a widely held view by less sophisticated investors. This could certainly be putting an exclamation point on that viewpoint. I've been a professional investor for 27 years. The market generally works pretty well,” says Lutts.
Publication: The Wall Street Journal Date: April 16, 2010 Headline: Cost of protecting Goldman’s debt jumps on SEC charges Expert: William Larkin Link: http://bit.ly/bv2JUz Abstract: Anusha Shirvastava of Dow Jones speaks with William Larkin, fixed-income portfolio manager at Cabot Money Management, about investors who are concerned that the SEC’s fraud charges against Goldman Sachs may create a domino effect and impact other firms and structure finance products. “Credit markets are seeing a sizeable impact from the Goldman news. The question is, has the SEC discovered what may have been a common practice across the industry? Is this the tip of the iceberg?" asks Larkin. He adds that investors will rush to safety and it will “impact all markets across the globe.”
Publication: The Wall Street Journal Date: April 16, 2010 Headline: Goldman charge puts breaks on structured-finance revival Expert: William Larkin Link: http://bit.ly/adVlzR Abstract: Katherine Greene of Dow Jones discusses how the SEC lawsuit against Goldman Sachs Group claiming fraud puts a stop on the promising revival of structured-finance industry with William Larkin, fixed-income portfolio manager at Cabot Money Management. “Credit markets are seeing a sizeable impact from the Goldman news. The question is, has the SEC discovered what may have been a common practice across the industry? Is this the tip of the iceberg?" asks Larkin.
Publication: Financial News Date: April 16, 2010 Headline: Goldman is charged with sub-prime fraud Expert: William Larkin Link: http://bit.ly/aj6IbR Abstract: Fawn Johnson of Dow Jones speaks with William Larkin, fixed-income portfolio manager at Cabot Money Management, regarding the SEC’s civil lawsuit against Goldman Sachs charging them with fraud. “Credit markets are seeing a sizeable impact from the Goldman news. The question is, has the SEC discovered what may have been a common practice across the industry? Is this the tip of the iceberg?" asks Larkin.
Publication: Boston Herald Date: April 13, 2010 Headline: Dow’s highest point since 2008 market plunge Expert: Rob Lutts Link: http://bit.ly/a0BV0A Abstract: Jerry Kronenberg of Boston Herald speaks to Rob Lutts, CIO and president of Cabot Money Management, about the Dow Jones Industrial Average closing above 11,000 for the first time since Wall Street’s September 2008 collapse. Lutts says stocks benefited from the fact that real estate, bonds and money market funds all look like worse investment options. “The only asset class left standing is stocks,” he says, adding that he anticipates the Dow to top 12,000 by the end of summer.
Publication: Reuters Date: April 12, 2010 Headline: Prices rise in anticipation of company earnings Expert: William Larkin Link: http://bit.ly/9Gwknd Abstract: Chriss Reese of Reuters talks to William Larkin, fixed income portfolio manager at Cabot Money Management, about US Treasury debt prices rising over concerns that upcoming company earnings may not be strong enough to justify current stock price levels. "We are right on the cusp of earnings season, and there is the possibility that (stocks) have gotten a little bit ahead of themselves from a pricing standpoint,” says Larkin.
Publication: The Wall Street Journal Date: April 12, 2010 Headline: Betting on solar and wind energy, and against some sovereign debt Expert: Rob Lutts Link: http://bit.ly/93wjEG Abstract: Gregory Zuckerman of The Wall Street Journal talks with Rob Lutts, CIO and president of Cabot Money Management, about unique difficulties solar and wind companies have because their dependency on subsides from the government. "The whole group doesn't get as high a rating as it once did because government subsidies have been reduced," says Lutts. For longer-term investors, Lutts recommends First Solar "the overall cost leader in thin-film technology," he adds.
Publication: Bloomberg
Date: April 9, 2010
Headline: Lorillard, Freescale boost issues as debt sales rise
Abstract: Tim Catts of Bloomberg discusses Lorillard Inc and Freescale Semiconductor Inc. debt sales in augmented offerings as US corporate bond sales rose 26 percent with William Larkin, fixed income portfolio manager at Cabot Money Management. Businesses are tapping into the bond market as the extra interest investors demand to hold corporate debt instead of Treasuries is near the lowest since November 2007. "These companies now are getting crazily cheap costs from a historical perspective. They're looking at the marketplace today and seeing a great opportunity to borrow," Larkin says.
Publication: Wall Street Journal Date: April 8, 2010 Headline: Ameresco taps into interest in green energy Expert: Rob Lutts Link: http://bit.ly/90SjND Abstract: Lynn Cowan of The Wall Street Journal discusses opportunities in Ameresco Inc, the first green company to go public since electric-car-batter maker A123 Systems, with Rob Lutts, CIO and president of Cabot Money Management. "This is the kind of company that when it does go public, I would take a closer look at it. I probably wouldn't buy at the IPO, but I'd wait and give it a couple of quarters of earnings reports" to get a clearer view of which businesses are driving growth, says Lutts.
Publication: Bloomberg Date: April 8, 2010 Headline: U.S. stocks rise as retail sales offset concern over Greece Expert: Rob Lutts Link: http://bit.ly/aGVVeQ Abstract: Whitney Kisling of Bloomberg talks with Rob Lutts, CIO and president of Cabot Money Management, regarding the stock market rally for the seventh time in nine days in response to faster than estimated sales growth from retailers. “We have been seeing improving data points. I believe the next two to three months, the data we’re going to be looking at is going to continue on a very positive track, and we’ll keep climbing, maybe 10 or 15 percent more by the summer,” says Lutts.
Publication: Fortune Date: April 6, 2010 Headline: Bonds in the ‘danger zone’ Expert: William Larkin Link: http://bit.ly/cZWgfF Abstract: Colin Barr of Fortune speaks with William Larkin, fixed income portfolio manager at Cabot Money Management, about some concern among bond managers who suggest investors hold more cash rather than buying into bonds. "We're in the danger zone. There's likely to be some sort of hit to the bond market,” says Larkin. He suggests investors who want to add bond exposure stick to maturities of three years or less.
MARCH 2010
Publication: CNBC Squawk on the Street Date: March 31, 2010 Headline: Market check Expert: Dennis Wassung Link: http://bit.ly/axLd4C Abstract: CNBC’s Erin Burnett sits down with Dennis Wassung, portfolio manager at Cabot Money Management, to discuss where he sees investment opportunities in the current economic environment. “Specifically when we look how to attack the market at this point, we look at themes and markets and sectors that are driving growth and opportunity. One I would point to is in the energy space where you’ve got more of a contrarian viewpoint on the natural-gas related stocks. You’ve got an interesting entry point in these natural gas related stocks when you’re looking at a $4 natural gas price, so I point to Southwestern Energy,” Wassung says.
Publication: USA Today Date: March 23, 2010 Headline: Plan adds Medicare tax on high earners’ investment income Expert: William Larkin Link: http://bit.ly/a9NcsL Abstract: Matt Krantz of USA Today speaks with William Larkin, fixed-income portfolio manager at Cabot Money Management, about the proposed 3.8% Medicare tax levied against high-income taxpayers’ investment income due to the new healthcare reform. High-income taxpayers see this latest tax as a warning of the kinds of taxes that are coming to help shore up the government's finances, says Larkin. High-income taxpayers "are being targeted as a revenue source," he adds.
Publication: SmartMoney Date: March 22, 2010 Headline: A new star in the bond market Expert: William Larkin Link: http://bit.ly/bjjqgV Abstract: Jason Kephart of SmartMoney discusses a surge in popularity in short-term bond funds, which typically invest in corporate debt maturing in less than five years, with William Larkin, fixed-income portfolio manager at Cabot Money Management. Larkin says the surge is due to the increase of people who are desperate to find a safe investment that pays interest.
Publication: CNN Money Date: March 19, 2010 Headline: Stocks make it 4 for 4 Expert: Rob Lutts Link: http://bit.ly/96nvxv Abstract: Alexandra Twin of CNN Money speaks with Rob Lutts, CIO and president of Cabot Money Management, about US stock futures tumbling overnight on the Fed’s decision to boost the emergency bank lending rate. "This wasn't unexpected, we know the medicine can't stay in the system forever. But this is just a first step, one that's symbolic but not hugely meaningful," says Lutts. He adds that the move doesn't mean the Fed plans to raise the more influential fed funds rate anytime soon.
Publication: Investors Business Daily Date: March 19, 2010 Headline: Google’s China exit angers shareholders Expert: Rob Lutts Link: http://bit.ly/da7FjD Abstract: Pete Barlas of Investor’s Business Daily talks with Rob Lutts, CIO and president of Cabot Money Management, about Google’s planned announcement about closing their search service in China after failing to reach an agreement with the Chinese government over online search rules. Departing China does not seem to be part of any revenue growth plan, says Lutts. “It's mind-boggling. I would have loved to have been in that boardroom to hear that discussion: how they decided to walk away from the largest single growth market in the world. I would guess that they put principal above business. Will that pay off in the long run? That's a major question mark," he adds.
Publication: Wall Street Journal Date: March 17, 2010 Headline: Investors back in corporate bond market Expert: William Larkin Link: http://bit.ly/9COjTG Abstract: Anusha Shrivastava of Wall Street Journal speaks with William Larkin, fixed-income portfolio manager at Cabot Money Management, discusses investor’s healthy interest in the corporate and asset-backed markets with William Larkin, fixed-income portfolio manager at Cabot Money Management. There is “a voracious appetite” for investment-grade deals, with “high demand and low supply,” says Larkin. Industry participants believe fixed income will be stable and the Federal Reserve will remain on the sidelines, he adds.
Publication: Bloomberg Date: March 17, 2010 Headline: Martin Midstream plants debt amid boosted sales: New issues alert Expert: William Larkin Link: http://bit.ly/aIkfx5 Abstract: Tim Catts of Bloomberg speaks with William Larkin, fixed-income portfolio manager at Cabot Money Management, about Martin Midstream Partners LP marketing bonds as companies increase the sizes of their debt sales to meet investor demand. Since March at least 18 companies have increased debt offering and boosted sales about 28 percent. “There’s a voracious appetite right now. They’re taking advantage of what everyone sees as value, and that means investors are probably buying at very expensive prices,” says Larkin.
Publication: Bloomberg Date: March 15, 2010 Headline: US stocks gain as financials trip loss, consumer shares rise Expert: Rob Lutts Link: http://bit.ly/9xKcDS Abstract: Whitney Kisling of Bloomberg talks with Rob Lutts, CIO and president of Cabot Money Management, about Google stocks tumbling while Baidu Inc. gained 4.8 percent, marking the first time they have topped Google. This comes after speculation grows that Google will shut its Website in China due to censorship issues. “It’s really pretty remarkable that Google has stated they’re going to turn their back on the largest single growth- market in the Internet. That’s really a boost to Baidu and a short-term negative for Google,” says Lutts.
Publication: Wall Street Journal Date: March 11, 2010 Headline: Issuance continues in corporate bond markets Expert: William Larkin Link: http://bit.ly/bCrC9B Abstract: Anusha Shrivastava of The Wall Street Journal discusses the surge of issuance in the high-grade market after two consecutive days of $12 billion in new bonds sold with William Larkin, fixed-income portfolio manager at Cabot Money Management. Things are going at a "rapid clip," in the high-grade market, says Larkin. "There's more demand than supply and good names are being taken very quickly," he adds.
Publication: Bloomberg Date: March 11, 2010 Headline: Treasury yield curve near record adds to demand at bond auction Expert: William Larkin Link: http://bit.ly/9dz8ob Abstract: Cordell Eddings and Susanne Walker discuss Treasury 30-year bonds, which gained as one of the biggest yield premiums over 2-year government securities heightened demand at the US auction of $13 billion in bonds with William Larkin, fixed-income portfolio manager at Cabot Money Management. “People are looking at the spread. The spread is so narrow on a lot of issues. The safety makes a lot of sense if you believe inflation will stay flat,” says Larkin.
Publication: Wall Street Journal Date: March 10, 2010 Headline: Citi takes another step toward normalcy with TRUPs sale Expert: William Larkin Link: http://bit.ly/dqr23L Abstract: Kelli Geressy-Nilsen at Dow Jones speaks with William Larkin, fixed-income portfolio manager at Cabot Money Management, about investors enthusiasm of Citigroups’ sale of $2 billion of trust preferred securities as the bank steps closer to repairing its balance sheet and repaying taxpayers. "The notable thing about this specific deal is that the preferred market has been somewhat closed as there's been a clear lack of liquidity," says Larkin.
Publication: NECN Business Date: March 10, 2010 Headline: Investing in Brazil Expert: Rob Lutts Link: http://bit.ly/bR1cGc Abstract: NECN Business sits down with Rob Lutts, CIO and president of Cabot Money Management, to discuss investment opportunities in emerging markets, particularly Brazil. “Brazil is in a great situation right now. A lot of their resources supply the other emerging fast growing economies like India and China. But they really created an emerging middle class, just like China has, of 100 million people. And their incomes over the last 5 years has grown 9 percent per year, and that’s really the driving force for the economy today,” says Lutts.
Publication: Reuters Date: March 10, 2010 Headline: Citi preferred securities sale passes litmus test Expert: William Larkin Link: http://bit.ly/9uoFnp Publication: John Parry of Reuters speaks with William Larkin, fixed-income portfolio manager at Cabot Money Management, about Citigroup’s sale of preferred securities that passed a market sentiment test one year after prices of bank bonds plunged to several year lows. "Now that they have done this high risk deal it is a good solid sign that the capital markets are flowing properly. We haven't seen a lot of activity in the preferred marketplace, and I look at Citi and that is a weaker credit. Now there could be some more issuance of preferred securities from other financial institutions,” says Larkin.
Publication: Bloomberg Date: March 5, 2010 Headline: US two-year notes fall on jobs data in longest slump of year Expert: William Larkin Link: http://bit.ly/d9aj3h Abstract: Susanne Walker talks to William Larkin, fixed-income portfolio manager at Cabot Money Management, about future contracts on the CME Group exchange after employment data indicated there was a 44 percent probability that policy makers will lift the target rate for overnight loans between banks by at least a quarter-percentage point by September. The rate has been at a range of zero to 0.25 percent since December 2008. “Being at zero is ridiculous because the risk of a depression is off the table now,” says Larkin.
Publication: Bloomberg Date: March 5, 2010 Headline: HSBC sells Kangaroo bonds as default risk drops: Credit markets Expert: William Larkin Link: http://bit.ly/9XmXo7 Abstract: Katrina Nicholas and Gabrielle Coppola of Bloomberg speak with William Larkin, fixed-income portfolio manager at Cabot Money Management, about investors interest in buying utility bonds amid mixed signals of the US economic recovery. Larkin says that debt from electric and gas companies represent a middle ground for investors looking to pick up yield while curbing risk. “The thing that’s attractive about utilities is that it’s regulated, in place. It’s the perfect business model for fixed-income investing,” says Larkin.
Publication: BusinessWeek Date: March 4, 2010 Headline: A year after meltdown’s end, a changed stock market Expert: William Larkin Link: http://bit.ly/ap5CjN Abstract: Ben Steverman of BusinessWeek speaks with William Larkin, fixed-income portfolio manager at Cabot Money Management, about investor sentiment one year after the market reached an all time low of….The caution and wariness can still be seen in investors who buy safe government and corporate bonds despite extremely low interest rates, says Larkin. "A lot of people are still nervous," he adds.
Publication: Reuters Date: March 3, 2010 Headline: Prices ease with waning safe-haven interest Expert: William Larkin Link: http://bit.ly/cSt8eJ Abstract: Chris Reese of Reuters discusses the data released from the Institute for Supply Management showing the U.S. services sector grew in February at its fastest pace in more than two years with William Larkin, fixed-income portfolio manager at Cabot Money Management. The evidence of growth in the services sector boosted investor optimism. "It tells us that things are normalizing, which means that Fed policy needs to move from emergency mode to accommodative," says Larkin.
FEBRUARY 2010
Publication: Bloomberg Date: February 25, 2010 Headline: Treasuries advance as Greece concern spurs demand at auction Expert: William Larkin Link: http://bit.ly/8XyDcT Abstract: Susanne Walker of Bloomberg speaks with William Larkin, fixed-income portfolio manager at Cabot Money Management, regarding a gain in Treasuries as concerns that Greece’s credit ratings may be cut boosted demand during a $32 billion auction of seven year securities. “The timing is perfect. We’ve gotten political turmoil in global markets. It looks like there’s the potential for a double dip in Europe,” says Larkin.
Publication: The Wall Street Journal Date: February 23, 2010 Headline: Credit markets: consumer confidence data raises doubts Expert: William Larkin Link: http://bit.ly/9sune9 Abstract: Romy Varghese of the Dow Jones Newswire speaks with William Larkin, fixed-income portfolio manager at Cabot Money Management, about investors concerns about the debt overhang with Treasury sales and weakened overseas markets. Larkin says the low consumer confidence data has been heightening the focus on the next week’s payrolls report.
Publication: Bloomberg Date: February 23, 2010 Headline: Treasuries Gain as Drop in Consumer Confidence Boosts Note Sale Expert: William Larkin Link: http://bit.ly/cz3lmo Abstract: Susanne Walker and Cordell Eddings talk to William Larkin, fixed-income portfolio manager at Cabot Money Management, about a recent boost in Treasuries after the decline in consumer confidence strengthen demand at the government’s auction of $44 billion in two-year notes. “The two-year is the sweet spot because no one feels that inflation is going to be an issue. For its liquidity and safety, it’s pretty attractive,” says Larkin.
Publication: CNN Money Date: February 19, 2010 Headline: Stocks make it 4 for 4 Expert: Rob Lutts Link: http://bit.ly/91ZBy5 Abstract: Alexandra Twin of CNN Money talks to Rob Lutts, CIO and president of Cabot Money Management, about recent market gains and investors’ hesitation to buy after the Fed's made the decision to boost the emergency bank lending rate. “This wasn't unexpected, we know the medicine can't stay in the system forever. But this is just a first step, one that's symbolic but not hugely meaningful,” says Lutts.
Publication: CNBC Squawk on the Street Date: February 17, 2010 Headline: Should you bank on Brazil? Expert: Rob Lutts Link: http://bit.ly/aatyou Abstract: CNBC’s Erin Burnett sits down with Rob Lutts, CIO and president of Cabot Money Management, to discuss overseas investments in Brazil. “You have to be long on Brazil. The situation down there is a really core growth to continue. Income is growing 9 percent per year over the last five years. Inflation is down to 4 or 5 percent. Things are moving very nicely in Brazil,” says Lutts
Publication: CNBC Stock Blog Date: February 17, 2010 Headline: Investors should be long on Brazil: stock picker Expert: Rob Lutts Link: http://bit.ly/cQzuJq Abstract: JeeYeon Park of CNBC’s Stock Blog asks Rob Lutts, CIO and president of Cabot Money Management, about his opinion on which way investors should bank on Brazil in 2010. “You have to be long Brazil. The situation down there is a really core growth to continue. From an economic standpoint, we should feel confident that the situation will continue in a favorable mode. The emerging middle class theme of consumption is where I’m focusing on,” says Lutts.
Publication: BusinessWeek Date: February 11, 2010 Headline: U.S. stock investors can't escape foreign worries Expert: Les Satlow Link: http://bit.ly/drEYLG Abstract: Ben Steverman of BusinessWeek talks to Les Satlow, portfolio manager at Cabot Money Management, about emerging market economies as U.S. investors focus on China. “[China] is one of the only major growth engines in the global economy right now. A major driver of emerging-market sentiment,” says Satlow.
Publication: Wall Street Journal Date: February 10, 2010 Headline: Credit Markets: Bernanke, Greece focus of quiet trading day Expert: William Larkin Link: http://bit.ly/8Y4L3m Abstract: Prabha Natarajan of the Wall Street Journal speaks with William Larkin, fixed-income portfolio manager at Cabot Money Management, about investment-grade corporate bonds. “Investment-grade is holding its own,” says Larkin. He adds that spreads are likely to remain rangebount over the next few days; although, the market will remain sensitive to worries over Greece. “That creates a level of nervousness because people don’t know how to fix that,” he says.
Publication: CNN Money Date: February 8, 2010 Headline: Treasurys mixed ahead of auctions Expert: William Larkin Link: http://bit.ly/cof3mK Abstract: Ben Rooney of CNN Money asks William Larkin, fixed-income portfolio manager at Cabot Money Management, about the upcoming Treasurys auction and investors’ fears about the fiscal problems facing Europe. “[This week's auctions] are putting a damper on the market. But because of the uncertainty in Europe, we're not seeing a major rebound in the stock market, and that will attract more money to the debt market,” says Larkin.
Publication: BusinessWeek Date: February 7, 2010 Headline: Stocks: how investors might play the pullback Expert: Rob Lutts Link: http://bit.ly/dhkUIt Abstract: David Bogoslaw of BusinessWeek talks to Rob Lutts, CIO and president of Cabot Money Management, about his optimism toward emerging markets including China, India and Brazil.
Publication: Boston Herald Date: February 6, 2010 Headline: Jan. jobless numbers send mixed signals Expert: Rob Lutts Link: http://bit.ly/bBHOZa Abstract: Jay Fitzgerald of the Boston Herald talks to Rob Lutts, CIO and president of Cabot Money Management, about the markets response to the U.S. Department of Labor’s job report that unemployment fell to 9.7 percent in January and European debt. “Clearly we’ve entered the worry, fear camp. It’s a very fragile investor psychology today. It doesn’t take much . . . to send them running for the hills,” says Lutts.
Publication: Associated Press Date: February 5, 2010 Headline: Stocks pull out of slump but end week lower Expert: Rob Lutts Link: http://bit.ly/axnEnB Abstract: Stephen Bernard and Tim Paradis of the Associated Press ask Rob Lutts, CIO and president of Cabot Money Management, about his thoughts on investors concerns with the European deficit and the modest improvement in the job market. “Clearly we've entered the worry, fear camp. It's a very fragile investor psychology today. It doesn't take much ... to send them running for the hills,” says Lutts.
Publication: Bloomberg Date: February 4, 2010 Headline: Kraft to sell debt to pay for Cadbury takeover: new issue alert Expert: William Larkin Link: http://bit.ly/cFHg59 Abstract: Tim Catts of Bloomberg asks William Larkin, fixed-income portfolio manager at Cabot Money Management, about his thoughts on Kraft Foods Inc. plans to issue debt to pay for its takeover of Cadbury PlLC. “The food business is less economically sensitive, so it’s the perfect play in this kind of marketplace. Could banks have another leg down? It’s possible, if unlikely. Will Kraft be around in 10 years? It’s very likely,” says Larkin.
Publication: Wall Street Journal Date: February 4, 2010 Headline: Kraft markets bonds for Cadbury purchase Expert: William Larkin Link: http://bit.ly/aVg0kR Abstract: Kellie Geressy-Nilsen and Romy Varghese of the Wall Street Journal talk to William Larkin, fixed-income portfolio manager at Cabot Money Management, about the bond markets response to Kraft Foods Inc. proposed acquisition of Cadbury PLC. If the company sells around $8 billion bonds, as expected by investors, the offering would be among the top five largest U.S.-marketed investment-grade corporate-bond deals since 2007. “Kraft is an extremely attractive company from a market position. It's been hard to find good viable companies, and investing in Kraft makes a lot of sense,” says Larkin.
Publication: CNN Money Date: February 2, 2010 Headline: Treasurys steady ahead of refunding auction Expert: William Larkin Link: http://bit.ly/cgRdCG Abstract: Hibah Yousuf of CNN Money speaks with William Larkin, fixed-income portfolio manager at Cabot Money Management, about the Treasury Department’s upcoming refund auction. Auctions have had stellar demand so far but investors doubt this reception will be sustainable in the long term, says Larkin. “We've been getting some stability in the economic data, but we have a big number coming down the pipeline. Treasurys will be strong ahead of the unemployment data that comes out at the end of the week,” he adds.
Publication: Financial Planning Date: February 1, 2010 Headline: Thinking outside the dollar Expert: Rob Lutts Link: http://bit.ly/c0h1xp Abstract: Suzanne McGee from Financial Planning asks Rob Lutts, CIO and president of Cabot Money Management, about his outlook on global diversification for 2010. “Keeping a high allocation to global markets, particularly emerging markets, gives you the potential for moderate returns in local currency to become bigger when they're translated into dollars. That's the gravy. The meat? That these are going to continue to be some of the highest growth markets around,” says Lutts.
JANUARY 2010
Publication: CNN Money Date: January 25, 2010 Headline: Treasurys mixed Expert: William Larkin Link: http://bit.ly/bkSjwZ Abstract: Blake Ellis of CNN Money talks to William Larkin, fixed-income portfolio manager at Cabot Money Management, about December home sales falling to 16.7 percent. “It was a trade. Existing home sales were lousy, but more senators came out and said they were going to support the federal government.”
Publication: Bloomberg Date: January 25, 2010 Headline: Bond rally on borrowed time, options traders indicate Expert: William Larkin Link: http://bit.ly/bTgqxc Abstract: Liz Capo McCormick of Bloomberg talks to William Larkin, fixed-income portfolio manager at Cabot Money Management, about his market outlook for 2010. “Is 2010 the year you are going to get the shift from stagnating growth to growth? I don’t know, but I am going to position myself for that,” says Larkin.
Publication: Reuters Date: January 20, 2010 Headline: Morgan Stanley pays up through profit disappoints Expert: Les Satlow Link: http://bit.ly/bkzQIf Abstract: Steve Eder of Reuters asks Les Satlow, portfolio manager at Cabot Money Management, the impact of weak trading results on Morgan Stanley’s fourth-quarter earnings. Morgan Stanley's trading revenue fell 65 percent to $1.1 billion in the fourth quarter from $3.2 billion in the third quarter. “It does have a significant impact, at least at the headline level. Having said that, I still think the trading results should have been better,” says Satlow.
Publication: Reuters Date: January 20, 2010 Headline: Bank earnings spark divergent bond, stock views Expert: William Larkin Link: http://bit.ly/9j3mZi Abstract: John Parry of Reuters talks to William Larkin, fixed-income portfolio manager at Cabot Money Management, about the banks’ problems causing bond investors to have doubts of a quick recovery. “Stock investors are looking at their banks' profitability and looking for that earnings growth, whereas the bond market is looking more at loan losses,” says Larkin.
Publication: CNN Money Date: January 20, 2010 Headline: Treasurys turn higher on recovery doubts Expert: William Larkin Link: http://bit.ly/aVY7Q3 Abstract: Hibah Yousuf of CNN Money talks to William Larkin, fixed-income portfolio manager at Cabot Money Management, about banks paying back their government bailout money. “Bond investors are using the bank earnings to gauge the breadth of the recovery. We know things are getting better through all the TARP money being paid back. But while the loan portfolio losses are dissipating, they are still disappointing,” says Larkin.
Publication: Wall Street Journal Date: January 16, 2010 Headline: Tech group leads small-stock declines Expert: Rob Lutts Link: http://bit.ly/ceA9T2 Abstract: Kristina Peterson of the Wall Street Journal asks Rob Lutts, CIO and president of Cabot Money Management, his take on small-capitalization stocks falling among a broad market decline. “I think a stock, like a staircase, needs to go level occasionally. We're in one of those flattening steps,” says Lutts.
Publication: CNBC Squawk on the Street Date: January 15, 2010 Headline: The Friday trade Expert: Dennis Wassung Link: http://bit.ly/dugzoD Abstract: CNBC Squawk on the Street asks Dennis Wassung, portfolio manager at Cabot Money Management, which stocks he favors. “We are favorable on the segment tech space and the growth in mobile data, as the Apple iPhone and other smart phones drive substantial growth in the data consumed here,” says Wassung.
Abstract: Hibah Yousuf of CNN Money talks to William Larkin, fixed-income portfolio manager at Cabot Money Management, about his thoughts on a market recovery. "We are in a period of doubt. Investors believe that with the amount of stimulus in the pipeline and the Fed policies in place, we're going to see a recovery. But they are questioning the timing and the breadth of that recovery," says Larkin.
Publication: Bloomberg Date: January 15, 2010 Headline: Virgin Media, Ford Motor credit tap market as junk sales rise Expert: William Larkin Link: http://bit.ly/cVK9Ex Abstract: Sapna Maheshwari and John Detrixhe of Bloomberg speak with William Larkin, fixed-income portfolio manager at Cabot Money Management, about investors searching for risky debt on concerns that a recovering economy could cause low-yielding bonds to become unattractive. “In this type of market where they’re talking about a potential rapid recovery, you need that cushion,” says Larkin.
Publication: CNN Money Date: January 14, 2010 Headline: Bond prices mixed after auction Expert: William Larkin Link: http://bit.ly/cz3LWj Abstract: Ben Rooney of CNN Money talks to William Larkin, fixed-income portfolio manager at Cabot Money Management, about the stock market focus on the corporate sector as fourth quarter reports gets into full swing. “If earnings are mixed, we'll probably stay where we are. If we get more strength in earnings, we could break out to higher yields,” says Larkin.
Publication: Boston Business Journal Date: January 8, 2010 Headline: Outlook 2010: Boston’s business leaders weigh in Expert: Rob Lutts Link: http://bit.ly/cIEEMF Abstract: The Boston Business Journal asks Rob Lutts, CIO and president of Cabot Money Management, about his market outlook for 2010. “I am a cautious optimist. Asset-based lenders have been fairly busy in 2009 and that bodes well for 2010 as spending picks up, even if just a little. I think it will be a slow growth year, which is better than no growth,” says Lutts.
Publication: The Daily News Date: January 8, 2010 Headline: Trying to muster up an economic smile Expert: Rob Lutts Link: http://bit.ly/87yCJo Abstract: John Macone of The Daily News asks Rob Lutts, CIO and president of Cabot Money Management, about his 2010 market outlook. Lutts says the recession has created a strong demand in both businesses and consumers, and is anticipating a powerful rebound on Wall Street. “You need to get on the train today,” he adds.
Publication: Bloomberg Date: January 8, 2010 Headline: Emerging market stocks, metals drop on China lending curbs Expert: Rob Lutts Link: http://bit.ly/8Y2ohY Abstract: Michael P. Regan and Elizabeth Stanton talk to Rob Lutts, CIO and president of Cabot Money Management, about China’s move to curb lending. Central bankers in China sold three-month bills at a higher interest rate for the first time in 19 weeks after stating their focus in 2010 is to control record loan growth. “Here is another economy increasing interest rates. How long till the U.S. comes in line and takes some of the medicine away? I think that’s coming in the next couple of months,” says Lutts.
Publication: The Daily News Date: January 8, 2010 Headline: Trying to muster up an economic smile Expert: Rob Lutts Link: http://bit.ly/87yCJo Abstract: John Macone of The Daily News asks Rob Lutts, CIO and president of Cabot Money Management, about his 2010 market outlook. Lutts says the recession has created a strong demand in both businesses and consumers, and is anticipating a powerful rebound on Wall Street. “You need to get on the train today,” he adds.
Publication: CNN Money Date: January 7, 2010 Headline: Bonds fall on employment outlook Expert: William Larkin Link: http://bit.ly/8Pukvx Abstract: Blake Ellis of CNN Money talks to William Larkin, fixed-income portfolio manager at Cabot Money Management, about his expectations for the market after the government releases its employment report. Larkin predicts positive employment data will increase yields and put bond prices under pressure. “We're right in front of tomorrow's (Friday's) employment data, and that's definitely
