CNBC"Closing Bell" June 15, 2009
John P. Calamos, Sr. expressed favorable long-term opportunities. He said that the large amount of money on the sidelines will have to come back into the market and believes "investors will start looking for opportunities in this type of a market."
He commented that "investors have to look much more constructively over a longer period of time than just a few days." Calamos Investments is finding compelling opportunities from a valuation standpoint in growth stocks, in the U.S. and internationally. "They've outperformed the general market this year, and the valuations still look attractive."
As a firm, John reiterated that Calamos is looking out longer term rather than a few weeks, overweighting technology and "actually adding energy exposure in this market, even with commodity prices up." He explained that the firm's energy exposure is a hedge against an expected inflationary environment caused by the short-term reflationary actions seen today.
Information about Risk
In addition to market risk, there are certain other risks associated with an investment in a convertible bond, such as default risk, the risk that the company issuing debt securities will be unable to repay principal and interest, and interest rate risk, the risk that the security may decrease in value if interest rates increase.
The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Information contained herein is for informational purposes only should not be considered investment advice.
Calamos Advisors, LLC 2020 Calamos Court, Naperville, IL 60563-2787, 800.582.6959
7993 0609O C