In his February shareholder meeting, Ross Gerber, portfolio manager of Gerber Kawasaki ETF (NYSE Arca: GK) took it out on the European market, saying it is “always a nightmare to do business” in the continent.
“You wanna put a million dollars to work, you’re gonna buy a bunch of European companies? Why?” asked Gerber in the meeting.
The CEO of his namesake investment firm started the meeting by laying down his economic outlook for the year as the world reels in from the impact of the COVID-19 pandemic.
“During recessions, people lose jobs, earnings go down, business cut back spending… and people cut back their spending… Does that sound like today? No. What’s today? The opposite of a recession. It’s called a booming economy,” said Gerber.
On Thursday, the US Labor Department said the consumer price index reached a four-decade high of 7.5%.
In hyping his perceived economic recovery for 2022, he said the year “is going to be fun,” adding that it will be “all about America.” He supported this by taking on the Chinese market, saying it is “hiding from Omicron [variant]…worst strategy ever”, adding that the Asian country is “uninvestable right now.”
“Europe? Always a nightmare to do business. America is the only game in town,” he added.
He then listed American companies that he suggests where investments should be placed instead of European firms. This includes Apple, Disney, Netflix, Amazon, Google,…
