Platinum's Andrew Clifford and Regal's Phil King couldn't view China more differently
Two of Australia's investment titans have have expressed markedly different views on one of the biggest topics currently dominating markets.
There are few more powerful or respected Australian fund managers than Andrew Clifford and Phil King. That doesn’t mean the two view the world the same way.
Clifford, Platinum Asset Management's CEO and co-chief investment officer, declared on Tuesday that he’s increasingly bullish on China, and holds what today is a distinctly contrarian view on the country.
“There's a stock market that’s down 50% from its highs two years ago. Its economy is already in recession, valuations look really attractive by historical standards, interest rates are being cut and fiscal stimulus is plentiful and ongoing,” Clifford told investors at the Livewire Live event in Sydney.
“Do you want to buy that market? I do.”
That is the opportunity in China facing investors right now, Clifford added.
It’s a completely different framing of the world’s second economy, running directly counter to much of the narrative on markets.
