Market analyst says Shreveport should focus on its unique traits to boost economy

Mar 12, 2014

The chief market strategist for Ameriprise Financial says the market is overdue for a correction, and that would be a good thing for investors looking for an entry point.

David Joy addressed Centenary College MBA students and business leaders Tuesday in Shreveport. Joy told Red River Radio that cities like Shreveport should focus on maintaining a sound fiscal position and then work to further the things that make the city unlike others.

“If you have a competency that makes you somewhat unique, whether it’s culturally or in terms of natural resources, and you exploit those in a favorable sense, then I think you can attract businesses and allow a community like Shreveport to thrive," Joy said.

Joy said Louisiana as a whole is poised to capitalize on the export of liquefied natural gas. But the nation’s energy policy will have a heavy hand in what happens to LNG and where it goes in the world.

“Over time, if we could enhance the security of places like Eastern Europe and Japan in terms of their energy resources, it would accrue to our benefit and our position in the world. So, this area of the country is very well positioned to be at the forefront of that," Joy said.

Joy is the senior spokesman for Ameriprise Financial and has given a number of speeches in Shreveport in years past about market forces and financial planning.