Video Reports

Embed this video

Copy Code

Link to this video

Get LinkEmbedLicenseRecommend (-)Print
Bookmark and Share

By Miriam Sjoblom, CFA | 09-23-2009 01:22 PM

Calamos: Tech Still Looks Attractive

Even after a nice run, tech stocks' longer-term prospects are not being reflected in their current stock prices, says Calamos co-CIO and founder John Calamos.

Miriam Sjoblom: Technology is also an important area for the funds, and it's been a multi-year theme. Can you talk a little bit about what you like in technology?

John Calamos: One of the themes there that we like is--we're in a period of difficulty in the economy, as we all know. Companies are struggling to keep their margins where they're at and improve the margins if they can. Technology is a benefactor of that. Companies are looking for other companies that make them more efficient, how can there be more savings.

So that theme I think is very true in here. Many of the technology companies have very strong balance sheets. They don't need access to capital, they have a lot of cash on the books, so they are very strongly placed in here.

And because of what happened in '08, the longer-term prospects we do not think are being priced into this market. There is sustainable growth. So even though they pop very nicely in here, on a longer term approach they still look very attractive to us. So we have a significant overweight in technology.

Sjoblom: OK. John Calamos, thank you for joining us today.

Calamos: Thanks for having me. It's been my pleasure.

Sjoblom: With Morningstar, I'm Miriam Sjoblom.

{0}-{1} of {2} Comments
{0}-{1} of {2} Comment
  • This post has been reported.
  • Comment removed for violation of Terms of Use ({0})
    Please create a username to comment on this article