Loomis Sayles Fund Manager Sees Downturn In Markets
‘Tis the season to be ... cautious? According to some investors--the answer is yes. On today’s "Squawk on the Street"--Mark Haines and Erin Burnett spoke with David Sowerby--Chief Market Analyst and Portfolio Manager for Loomis Sayles & Co. He manages the 4-star Morningstar rated Loomis Sayles Tax-Managed Equity Fund.
He says recent weakness could be a sign that we're in for a 5% down turn.
He's cautious in retail--there's been a 20% run in retail stocks since lows in July – often not on strong fundamentals. Sowerby wouldn’t be surprised to see a setback in the market but if you get that--he says it would be a buying opportunity.
In the near term...the market got ahead of itself and Sowerby thinks there will be a hiccup sometime in December.
Where is he putting his money? Live Nation– largest concert promoter in the country – they are continuing to take market share and Navigant Consulting .