Venture Capitalist McNamee 'Incredibly Nervous' About Stocks

Monday, 11 Aug 2014 07:51 PM

By Dan Weil

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
While the U.S. stock market's recovery over the past two trading days has soothed some investors, venture-capital luminary Roger McNamee, managing partner of Elevation Partners, isn't one of them.

After dropping 4.3 percent from its record high July 24 to its low Thursday, the S&P 500 has rebounded 1.7 percent.

But McNamee notes that geopolitical trouble abounds, from the military conflicts in the Mideast and Ukraine to the spreading Ebola virus and political paralysis in Washington.

Editor’s Note: New Warning - Stocks on Verge of Major Collapse

"It just seems to me that there is a lot of chaos in the world, and the rate of chaos is increasing a lot. That just makes me incredibly nervous," he told CNBC.

"I don't understand how you can have so much chaos and still have prices going up every day. . . . It doesn't change how I feel about individual stocks. It does change how much exposure to the market I want to have."

McNamee said he has cut his equity positions by about one-third during the past week, shifting to Treasurys.

Not everyone shares McNamee's concerns.

"There is some sense that geopolitical risk out there is waning, or at least the situation is better than the belligerent talk that was coming out in middle of last week," Bill Schultz, chief investment officer at McQueen, Ball & Associates, told Bloomberg.

"We’re at lower levels than we were two weeks ago, so there’s a better entry point if you look to add stocks to your portfolio."

Editor’s Note: New Warning - Stocks on Verge of Major Collapse

Related Articles:

© 2014 Moneynews. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Shiller: Talk of 'Secular Stagnation' May Have Tripped Stock Market

Monday, 20 Oct 2014 20:11 PM

Nobel laureate economist Robert Shiller of Yale says stories about a global slowdown and deflation, which he says add up . . .

Roubini: Global Economic Slowdown May Spill into US

Monday, 20 Oct 2014 19:50 PM

While star economist Nouriel Roubini of NewYork University expects U.S. economic growth to total about 3 percent annuali . . .

Top Fed Officials Come Down Hard on Big Banks

Monday, 20 Oct 2014 18:00 PM

Banks must change the way employees are compensated and take other steps to fix a corporate culture that encourages misd . . .

Most Commented
Top Stories

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved