Senior Managing Director of Carret Asset Management, Donald Gimbel, works with Alan Quasha, chairman of the same organization. Gimbel recently discussed investment in Asia (among other topics) with Tom Keene (editor at large Boomberg News) and Ken Prewitt. Given that Gimbel indicated optimism on China’s economy, he was asked how one should go about investing in the country while avoiding “playing the roulette wheel” integral to Shanghai’s index. He responded: “I would avoid that like the plague. I think what you have to look at is what China is short of is infrastructure. It’s short energy and it’s short education. And these are areas that you can make a lot of money in over the next five to ten years. Investing in China like investing any place is a time thing. You need to be patient. You need to look for value. You have to understand business plans and you have to meet management. And I know for the average investor that’s very difficult when you get out of the U.S., but that’s why you – that’s why there are people like us who spend a lifetime doing it.” Carret Asset Management is a privately owned investment manager.
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