Pensioners of the United States will continue investing in local real estate, although their savings have been affected.
Tycoon of Wall Street trusts Costa Rica The world-wide economy will not recover soon, assures Henry Kaufman
President of the company that takes its own name, Henry Kaufman, was Managing Director of Salomon Brothers, as well as member of the meeting of Lehman Brothers, in addition he acted as economist of the Federal Bank of Reserve of New York at the moment is making businesses in Costa Rica through Avalon Condominiums
What advantages see in Costa Rica with respect to other countries of the region?
One of the aspects that please to me more is the climate.
In what segment it finds opportunities?
Mainly in real estate. I have been seeing a great number of condominiums. I see an opportunity of strong migration of retired people to maintain its quality of life that strongly has been struck and Costa Rica is the option to a smaller cost.
How they have been seen affected the bottoms of retirement in the United States?
The bottoms of savings have been seen very affected in until a 40%.
With whom it has been talking in Costa Rica on investments?
I have been in negotiations with several developers, would want to invest here in projects directed for distant people who are lost part of their resources.
Companies like Bear Stearns, Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers were advised some years ago by you, which is its opinion on the happened thing in Wall Street?
It is a terrible situation that never had to happen. These corporations grew in an unmanageable size and were handled by shareholders and not by partners. The partners handled the companies with responsibility whereas the shareholders had the bottoms they threw and them to the personal accounts and they handled everything with greed.
At the most will extend the crisis?
For a long time, for years.
Which is its opinion on the policies that president Obama has implemented to palliate the crisis?
It has been a slow erosion of Capitalism and are entering a phase of socialism very similar to the Swedish model. What it worries to me is that the people in charge to cause the crisis like Goldman Sachs and Bank of America, among others, did not know to anticipate what came and now are in charge of looking for the solution with the government of Obama.
Which are the main changes that the crisis to the investors will bring?
The credibility was destroyed and after that no financial system it is going to walk well.
Which is its advice for the new runners who do not have the experience?
To look for a mentor and to become of an inexperienced student in one wise person. To learn of the best ones and to have the opening to instruct itself.
How it obtained yield in 2008?
While some invested and invested in bonds of Wall Street I bet by real estate. This against which all thought that it was good business, but in 2008 people lost money and my investments bloomed.
Why it chose other zones to invest outside the United States?
The United States becomes with a difficult future. The budgets of that country have been restricted and they do not have the money to operate. In its place the capital has been destined to save corporations that have recommended the experts to let them quiet to purify the system.
He is recommendable to continue financing these companies?
The United States does not have capacity to continue for a long time maintaining to inject resources to the companies. It must borrow to China, Saudi Arabia and South Korea that buy bonds of the United States, but what happens they stop when them buying for being little attractive?
Personal data Name: Henry Kaufman Occupation:
Investor Birth: Germany, 1927
Professional profit: To have been a running greater intern of Wall Street where he was expeditious to transactions between great companies by sum of million dollars
Pastimes: the numbers
http://www.larepublica.net/app/cms/www/index.php?pk_articulo=24121
Source: Newspaper La Republica
