FEATURE | FINANCIAL ROUNDTABLE
Shopping the Million Dollar Store Join some of the nation’s premier financial wizards as they discuss the future of your money ED MATHIAS These are unusual times.What do
1 JOHN T. “Terry” BEATY II is a partner at
1
Brown Advisory LLC, a registered investment advisor for $14 billion in assets. His 37 years of investment experience include serving as president of Davidge & Company and Beaty Haynes & Associates, Inc. He has a B.A. degree from Princeton University and an M.B.A. from Harvard Business School.
2 AIMEE W. DANIELS
2
is executive vice president and market president for HSBC Bank’s mid-Atlantic region. Her responsibilities include leading the bank’s expansion there as well as day-to-day oversight of the commercial, retail and embassy banking businesses. Her previous positions include being the partner in charge of sales and marketing for CapX Partners and senior vice president and division head of LaSalle Bank’s downtown Chicago office.
3 DEAN J. EISEN
3
is a Senior Vice President with Citi Family Office in Washington, D.C. and a partner in The Scherer Group, a team inside Citi Institutional Consulting providing planning, investment and philanthropy advice to ultra-high net worth families and institutions. He is a graduate of City University of New York at Queens College and a graduate of the Certified Investment Management Analyst program from the Wharton School, University of Pennsylvania.
4 LAWRENCE P. FISHER II
4
is managing director and senior resident officer of the Bessemer Trust. He began his career at Riggs Bank in 1981 and worked at Maryland National Bank and its predecessor American Bank, Mellon Bank and U.S. Trust Company before joining Bessemer Trust. He holds a B.S.B.A. degree from Georgetown University where he is a member of the board of visitors.
5
5
66
Moderator EDWARD J. MATHIAS is a managing director of the Carlyle Group and graduated with an M.B.A. from Harvard Business School. He is also cochairman of the President’s Circle of the National Gallery of Art.
you think investors should be concerned about? JOHN BEATY This is a time to worry about
risk and to be very careful about using borrowed money. The banking system is under a lot of pressure on its own balance sheets and is pulling back. Many of the issues have to be looked at in a global context. Americans in general, not necessarily people in Washington, are still getting used to thinking globally, and it doesn’t feel very comfortable and they don’t like some of it …. But it is the reality. The Federal Reserve and the Treasury can pull levers that influence banks and influence corporations in the United States. Whether that influence is anywhere near as strong in places like Beijing and Dubai, where the United States has to borrow a billion dollars a day, is questionable. Some of the biggest decisions affecting our economy and financial system are now being made outside of the United States. LAWRENCE FISHER Some part of the
overall economy is sort of A Tale of Two Cities. Cosumers are overextended in many ways, particularly in the housing market, which is now going through a correction. Much of the rest of the economy is doing better than the headlines would have you believe. So far this year, the corporate profits of nonfinancial corporations are up something like nine percent. The upshot is that we’re in a stress test period, and our best guess is we’re not going to have a bad recession in the classic sense. They may not call it a recession, but we’re in an extended period – a year and a half, maybe – where two sides of the economy are going through different experiences, and it’s a very difficult environment to operate in and to invest in. Having said that, pay attention to quality, be careful about leverage, spread it around different asset classes and be a little bit on the conservative side. There will be some great opportunities developing out of this.
WA S H I N G T O N L I F E
| J U N E | washingtonlife.com