Cash Live
    Trending
    • Automakers are jacking up prices on electric vehicles to bake in rising materials costs
    • Stocks making the biggest moves after the bell: Palo Alto Networks, Ross Stores, Deckers & more
    • Want to change the world? Bill Gates says you should ‘read a lot’ and ‘find a skill you enjoy’
    • These 10 companies help pay for their employees’ vacations
    • America’s small businesses aren’t ready for a cyberattack
    • Who needs LeBron? Luka Doncic, Ja Morant, playoff ratings put NBA in a strong position for next media rights cycle
    • Creating a special needs trust? Here are the costs, what you need to know and who to use
    • As college enrollment tanks, there’s a growing push to celebrate students going into skilled trades
    • Personal Finance
    • Investing
      • Investing
      • Advisors
      • Investor Tips
    • Earnings
    • Business
      • Business
      • Small Business
    • Finance
      • Finance
      • Wealth
    Cash Live
    Home»Investing»Apollo CEO says inflation is everywhere in company’s portfolio
    Investing

    Apollo CEO says inflation is everywhere in company’s portfolio

    September 13, 2021No Comments3 Mins Read
    106940736 1631544985833 gettyimages 487314883 MILKEN CONFERENCE scaled
    Share
    Facebook Twitter LinkedIn Pinterest Email

    In this article

    • APO
    Marc Rowan, co-founder and senior managing director of Apollo Global Management LLC, speaks at the annual Milken Institute Global Conference in Beverly Hills, California, U.S., on Tuesday, April 29, 2014.
    Patrick T. Fallon | Bloomberg | Getty Images

    The high inflation readings for the U.S. economy are showing up in every facet of business for investing giant Apollo, CEO Marc Rowan said Monday.

    “Everywhere. There’s not a place [where we are not seeing it]. Everything that we once did now costs more,” Rowan told CNBC’s Leslie Picker as part of “Delivering Alpha.” “Lead times, pressure on inventory, pressure on supplies, pressure on employment. Our experience in our portfolio is really no different than the broader economy.”

    Rowan said it remains to be seen if inflation proves to be transitory — that is, temporary — as Federal Reserve chair Jerome Powell has repeatedly said. Still, Rowan believes the price increases will ease as the recent spending boom decreases and U.S. natural low-inflation pressures, such as slow population growth, reassert themselves.

    Rising prices have been the subject of a key debate in economics and investing circles since the U.S. economy began to reopen from pandemic restrictions and consumer spending rebounded. Originally, high inflation readings were caused in large part by dramatic increases for a few items, including used cars, and abnormally cheap prices in the 2020 data that were being used as the main point of comparison.

    However, inflation readings have stayed well above the Fed’s 2% average target, leading to some concern among economists and investors that the cost increases will not fade away. The median one-year ahead inflation expectation for consumers in August was 5.2%, according to a report from the New York Fed released Monday.

    Apollo is one of the biggest players in the alternative investing industry, with assets under management of $472 billion as of June 30. The company’s recent major deals include buying Yahoo and AOL from Verizon for $5 billion. Shares of Apollo are up about 25% year to date.

    Rowan said he wasn’t sure if Apollo could find a way to control inflation in its portfolio but that it his company’s job to thrive in any environment. He also said that markets appeared to be “priced for perfection” and at risk of a pullback but that there are still places for investors to find value.

    Rowan, who became CEO in March after co-founder Leon Black stepped aside amid uproar about his ties to Jeffrey Epstein, also told Picker he didn’t see the company’s private equity arm growing significantly in size in the years ahead, with credit instead being a major area of growth.

    CNBC’s full Delivering Alpha conference will take place virtually Sept. 29, with speakers including Brad Gerstner from Altimeter Capital and Chamath Palihapitiya from Social Capital. Interested investors can register for the event here.

    Become a smarter investor with CNBC Pro. 
    Get stock picks, analyst calls, exclusive interviews and access to CNBC TV. 
    Sign up to start a free trial today.

    This article was originally published by Cnbc.com. Read the original article here.
    fqw82np

      Related Posts

      The CEO of the world’s second-largest alternatives firm is optimistic about a light recession

      May 20, 2022

      Crypto exchange FTX U.S. moves into stock trading

      May 19, 2022

      Rising fuel costs are a massive problem for business and consumers — Here’s why they’re so high

      May 19, 2022

      Melvin Capital says it’s winding down funds and returning money to investors during market turmoil

      May 19, 2022
      Add A Comment

      Leave A Reply Cancel Reply

      Signup for our Newsletter
      Advert
      Investing

      The CEO of the world’s second-largest alternatives firm is optimistic about a light recession

      May 20, 2022

      Crypto exchange FTX U.S. moves into stock trading

      May 19, 2022

      Rising fuel costs are a massive problem for business and consumers — Here’s why they’re so high

      May 19, 2022

      Melvin Capital says it’s winding down funds and returning money to investors during market turmoil

      May 19, 2022
      Finance

      Stocks making the biggest moves after the bell: Palo Alto Networks, Ross Stores, Deckers & more

      May 22, 2022

      These 10 companies help pay for their employees’ vacations

      May 21, 2022

      As college enrollment tanks, there’s a growing push to celebrate students going into skilled trades

      May 21, 2022

      Stocks close flat in wild session Friday that saw the S&P 500 briefly fall into a bear market

      May 21, 2022
      Earnings

      Cisco stock plunges as company forecasts surprising revenue decline

      May 20, 2022

      Palo Alto Networks stock jumps after company lifts full-year forecast

      May 20, 2022

      Kohl’s says final sale bids expected in coming weeks; retailer slashes full-year outlook after earnings miss

      May 19, 2022

      Bath & Body Works shares fall as retailer cuts profit outlook due to inflation

      May 19, 2022
      Categories
      • Advisors
      • Business
      • Earnings
      • Finance
      • Investing
      • Investor Tips
      • Personal finance
      • Small Business
      • Wealth
      Archives
      • May 2022
      • April 2022
      • March 2022
      • February 2022
      • January 2022
      • December 2021
      • November 2021
      • October 2021
      • September 2021
      • August 2021
      • July 2021
      • June 2021
      • May 2021
      • April 2021
      • March 2021
      • February 2021
      • January 2021
      • December 2020
      • November 2020
      • October 2020
      • September 2020
      • August 2020
      • July 2020
      • June 2020
      • May 2020
      • April 2020
      • March 2020
      • February 2020
      • January 2020
      • September 2019
      • July 2019
      • September 2018
      • May 2018
      • March 2018
      • February 2018
      • December 2017
      • September 2017
      • June 2017
      • May 2017
      • April 2017
      • March 2017
      • December 2016
      • September 2016
      • August 2016
      • July 2016
      • June 2016
      • May 2016
      • April 2016
      • March 2016
      • October 2015
      • September 2015
      • July 2015
      • June 2015
      • March 2015
      • February 2015
      • January 2015
      • December 2014
      • October 2014
      • September 2014
      • July 2014
      Signup for our Newsletter
      Advert
      “Managed
      Uselful links
      • Contact
      • About us
      • DMCA / Copyrights Disclaimer
      • Privacy Policy
      • Terms and Conditions
      • Cookie Policy (US)
      • Cookie Policy (EU)
      © 2022 Designed and Powered by JL Digital webbyrå.

      Type above and press Enter to search. Press Esc to cancel.

      Manage Cookie Consent
      To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
      Functional Always active
      The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
      Preferences
      The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
      Statistics
      The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
      Marketing
      The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
      Manage options Manage services Manage vendors Read more about these purposes
      View preferences
      {title} {title} {title}