Power Play: 2 strategies to boost portfolio

Consumers benefit in this environment: Pro
Consumers benefit in this environment: Pro   

Making money in the stock market is all about taking risk, something investors have been reluctant to do given the recent market volatility.

Two top strategists believe you have to embrace risk and say there are two things you can do now to boost your portfolio.

One is to own small and mid-cap stocks. Buy these "if you want to have more exposure to better trends here domestically," Jeremy Zirin, head of U.S. equity strategy at UBS Wealth Management Americas, told CNBC's "Power Lunch" on Tuesday.

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Another is to buy stocks on a market pullback.

"Take advantage of opportunities when the market trades in the lower portion on the range (S&P 1980)," said Jim Dunigan, chief investment officer at PNC Asset Management.

The Dow, S&P 500 and Nasdaq all higher during trading, but small and mid-cap stocks are flat.