Tag Archives: Marc Lasry

US Economy Investments: Now Is the Time

DollarAs many experts explain, the time is currently ripe to invest in the US economy.  In the last three months, the economy has encountered a growth of 3.9% with an escalation in job growth at more than 200,000 per month.  So it might be inaccurate to tie a low GDP growth with a non-forward pushing economy.  One reason for this is, as Senior VP and Chief Economist at Bank of the West, Scott Anderson noted, primarily because America “experienced a correction to inventories that may have subtracted about 1.6 percentage points from GDP growth,” rendering these figures less than accurate.

Instead, what is more likely to be indicative of an economic growth spurt are the above statistics, as well as the fact that the Fed did not raise rates in the last two months.

So it should not be surprising that investment experts and hedge fund owners, are promoting the US as a place to make an investment.  According to Marc Lasry, CEO and founder of Avenue Capital, right now, “the best place to invest is the US” (source: Blooomberg.com). In 2014, Lasry’s assets investment firm was valued at $14 billion.  Avenue Capital also raised $1.3 billion to principally invest in North American energy and utility companies.

Furthermore, the most recent survey undertaken by the University of Michigan showed that today, US “consumers are more confident about their personal finances than at any time since 2007.”  Plus, as the Economic Policy Institute’s Research and Policy Director Josh Bivens documented, what we can see is actually indicative of “steady….but slow improvement in the U.S. economy.”  He advises “policymakers – particularly the Federal Reserve – [to not do anything] to slow the pace of recovery.”

Economist Robert Waldmann said: “I just notice that in the second quarter of 2015 US real gross private domestic investment surpassed US real government consumption expenditures & gross investment for the first time since the data have been collected (1947).”

 

Marc Lasry on the “Great” US Economy

businessAccording to Marc Lasry, CEO and founder of Avenue Capital, right now, “the best place to invest is the US.” Lasry – whose net worth was estimated by Forbes this year as being $1.2 billion – is a self-made businessman, having scored 9 on Forbes’ 400 Self-Made Score in 2014. Further, his assets investment firm was valued at $14 billion and it raised $1.3 billion to principally invest in North American energy and utility companies.

So Lasry really is a case of someone who is ‘putting their money with their mouth is,’ given that he is advising anyone who is “an equity investor [to] be an investor in the U.S.” Further, he is advocating the Fed take a step back from the US economy because it anyway “can’t keep on pumping more and more stimulus into [the US] economy.” Rather, he continues, the economy should be able to – on its own – “grow and do what it needs to do.”

Marc Lasry knows what it is like to start from the bottom and build your way up as well. It was at 7 years old that his family moved from Morocco to America. For 10 years thereafter, he shared a room with two of his siblings. But he worked hard and earned a Bachelor of Arts/Science from Clark University and a Doctor of Jurisprudence from New York Law School. Following that, together with his sister Sonia Gardner, he founded Avenue Capital and has been working with her for the last 30 years. This year, Lasry was Number 1006 on Forbes’ List of Billionaires (Number 350 in the US) and last year, Number 24 on their list of Hedge Fund Managers.