‘World Is Healing,’ Buy Stocks: Patterson
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Improving economies around the world mean that stocks are a good bet for 2013, Bessemer Trust CIO Rebecca Patterson said Thursday on CNBC.
"I do think the world is healing," she said. "If I take money out of high-yield, where do I go? I'm going into stocks."
On "Fast Money," Patterson said that her focus was wide.
"We're looking globally, so this isn't just a bet on the U.S. economy," she added.
Patterson said pockets of strength in Japan and Europe offer good options.
"We're all over the place in terms of where we're going in equities," she said, adding that domestically, fears of sequestration in the federal budget were already priced into equities.
China GDP was likely to grow in the mid-8 percent range, Brazil's real was strengthening and Mexico looked "incredibly strong," she added.
"If Europe can stay stable, emerging Europe might even be interesting this year," she said.
Trader disclosure: On Jan. 31, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Jon Najarian is "long stock short calls" JPM; Jon Najarian is short FB Puts; Jon Najarian is long ANN; Jon Najarian is long calls on IMAX; Tim Seymour is long AAPL; Tim Seymour is long BAC; Tim Seymour is long INTC; Tim Seymour is long SBUX; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU; Guy Adami is long AGU; Karen Finerman is long Puts in AAPL; Karen Finerman is long BAC; Karen Finerman is long C; Karen Finerman is long JPM; Karen Finerman is long WMT; Karen Finerman is long TGT; Karen Finerman is long MSFT; Karen Finerman is long GOOG; Karen Finerman is long M.
