Luis Fañanas Martinez & team, Deutsche Bank
The buy side says: “They put market trends in the proper context. Very insightful.”
Luis Fañanas Martinez pilots the Deutsche Bank duo to a second straight visit to the No. 1 spot. One investor praises the Madrid-based team for its focus on “high-quality companies in the European panorama.” Fañanas, 40, confirms that his philosophy is to give “absolute priority to the price-versus-value relationship; in this equation the quality of the business is key. The context in which those companies operate is also relevant, but less so.” The analysts are “very cautious” owing to the deleveraging that has to take place in the West, “given the absolute huge level of debt, both public and private,” says Fañanas. He notes that there will be “less credit available and fewer investments” in the private sector, and a decline in public spending is “already hitting economies but will be much more evident in 2012–2013.” However, the team advises that prospects are better for smaller companies in Nordic countries, which are enjoying a “far better macro context versus Western Europe.”
