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BMO
PRIVATE BANK PRESENTS FINE ART OF INVESTMENTS
AT SPECIAL NORTON EVENT
WEST PALM BEACH, Fla., (May 16, 2013) - Jack Ablin,
Executive Vice President and Chief Investment Officer for
BMO Private Bank, was the featured speaker at the Norton
Museum of Art recently when BMO Private Bank presented a
special evening on the fine art of investments. The event
included a reception, dinner and private tours of the Annie
Leibovitz exhibition, which is sponsored by BMO Private
Bank.
Ablin is an author and frequent contributor to CNBC,
Bloomberg, The Wall Street Journal and Barron's. In addition
to establishing investment policy and strategy for BMO
Private Bank, Ablin also chairs the BMO Private Bank Asset
Allocation Committee, which determines the strategy for
investment portfolios.
Prior to introducing Ablin, Michael J. Dyer, West Palm Beach
managing director for BMO Private Bank, welcomed guests and
introduced Zach Lazar, BMO Private Bank president of Florida
and Illinois.
Ablin presented 'At the Pleasure of the Fed' to nearly 150
guests. He discussed his global macro strategy for
navigating the uncertainty surrounding the ever-changing
investment markets and the global economy. He also
identified developing economic trends in the U.S. and abroad
and their implications on public policy.
Below are highlights from Ablin's comments specific to the
Florida real estate market:
According to the most recent S&P Case-Shiller report, the
price of a single-family home in South Florida surged 12
percent from its low point hit in April 2011. The Florida
market is showing remarkable resilience compared to the
national average which has gained nine percent off the
bottom. Not only has property in the Sunshine State bounced
back higher than the rest of the country, but it bounced
sooner,
defying industry logic.
Conventional wisdom suggested that Florida real estate would
be among that last residential real estate markets to
recover since would-be buyers needed to sell their primary
residences in the Northeast or Midwest before settling on
their retirement home in Florida
.
Canada is Florida's number one source of foreign tourists
and the state's number one foreign buyer of Florida real
estate. In 2010, Canadians accounted for 36 percent of all
real estate purchases by foreigners, according to the
National Association of Realtors. All told, it is estimated
that 500,000 Canadians own property in Florida.
Thanks to the housing market bust, Florida property looks
especially attractive to Canadians. The median priced home
in Canada is nearly double the median price in the U.S. At
the same time, the Canadian dollar is currently trading
nearly 10 percent above ?fair? value versus the U.S. dollar,
arming snowbird shoppers with extra
buying power.
For more information about BMO Private Bank, please visit:
www.bmo.com/privatebank/us or call the West Palm
Beach office at: 561.833.6650.
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About BMO Private Bank, a part of BMO Financial Group
BMO Private Bank offers a comprehensive range of wealth
management services that include investment advisory, trust,
banking and financial planning to meet the financial needs
of high net worth clients. Through integrated teams of
experienced financial professionals, BMO Private Bank helps
its clients realize their financial and lifestyle goals with
solutions that are custom tailored and delivered with the
highest level of personalized service.
BMO Private Bank is a brand name used in the United States
by BMO Harris Bank N.A. Member FDIC. Not all products and
services are available in every state
and/or location.
BMO and BMO Financial Group are trade names used by Bank of
Montreal. |