Wall Street Journal: Is Panama the Next Switzerland?
On Tuesday, the Alliance of Alternative Asset Professionals hosted an event where Noel Thompson, the young CEO and chief investment officer of a recently launched global-macro hedge fund, Thompson Global Partners, talked about the U.S. presidential election and countries around the world.
Thompson has an interesting backstory. A former high-school and college wrestler and one-time trader at J.P. Morgan and Goldman Sachs, Thompson set up the fund last year to trade commodities, equities, currencies and interest-rate futures.
He offered his assessment on how multiple assets will do if Barack Obama or Mitt Romney wins the November presidential election. History suggests it won’t make much of a difference for stocks, he said, but that bond prices typically fall when a Republican wins and rise when a Democrat is elected.
Another tidbit: He believes that Panama could become the Switzerland of Latin America because its close proximity to the U.S., its use of the U.S. dollar as legal tender and the Panama Canal make it a logical place for folks to meet and do business when the U.S. isn’t an option.
The S&P Panama Broad Market Index has gained more than 19% this year.
Wall Street Journal: http://blogs.wsj.com/totalreturn/2012/07/26/is-panama-the-next-switzerland/