Bloomberg TV"The Bloomberg Report" August 23, 2006
Nick Calamos Speaks to Large-, Mid-Cap Growth Opportunity
The current market climate offers a rare period of opportunity for investing in certain large- and mid-cap growth stocks, according to Nick P. Calamos, CFA, senior executive vice president and co-chief investment officer of Calamos Asset Management.
On the August 23 broadcast of "The Bloomberg Report," Calamos expressed a positive view of the economy, and said that he believes the recent economic slowdown shouldn't be viewed with undue surprise—or anxiety. He and his team believe that the economy is in the mid-phase of economic expansion, where a pause is not unexpected. "We've seen a little bit of a slowdown—the result of higher interest rates, and of course, the housing slowdown, as well as higher energy prices, but this is typical, and similar to what we saw in the '80s and '90s: a slowdown in the midst of the expansion."
While noting that much of the global market seems to be fairly priced on an asset class level, he said that the Calamos team is finding attractively valued, high-quality large-cap and mid-cap growth opportunities. "One of the major themes we see is big-cap growth stocks and mid-cap growth stocks have really underperformed value stocks for the longest stretch in a generation; and they've also underperformed cyclical stocks since '94. It's a rare period to find these very attractive good companies—or great companies—at a very good price."
For more on Nick Calamos' view on the market and long-term investment opportunities, please visit our commentary section.