Zachary Karabell on Europe, China -- and What Investors Are Missing

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Zachary KarabellEclectic and full of counterintuitive insights, author and money manager Zachary Karabell sat down with DailyFinance recently to discuss a wide spectrum of issues that are weighing on the markets.

Karabell isn't afraid to go against the grain. Investor panic surrounding the Greek debt situation may be overdone, he argues. Why? Because after being badly burned by Lehman Brothers' collapse two years ago, investors now take flight at any signs of a credit crisis. But Karabell notes that crucial details differentiate the present situation in Europe from what played out in the U.S. in 2008.

And while China is grappling with a host of economic and political issues, ruminations about a meltdown or hard landing for the economy may be overdone as well. Property prices are indeed soaring, but the situation is manageable, Karabell -- an expert on the region -- argues.

Karabell has an especial emphasis on often overlooked cogintive biases. Bonds, for example, may ultimately be riskier than they are billed to be, and stocks could do well despite recent gloom in the markets.

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Markets

DJIA 20,624.05 4.28 0.02%
NASDAQ 5,838.58 23.68 0.41%
S&P 500 2,351.16 3.94 0.17%
DAX 11,822.78 65.76 0.56%
NIKKEI 225 19,251.08 16.46 0.09%
HANG SENG 24,146.08 112.34 0.47%
USD (per EUR) 1.06 0.00 -0.10%
USD (per CHF) 1.00 0.00 0.13%
JPY (per USD) 113.15 0.25 0.22%
GBP (per USD) 1.25 0.00 0.29%

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