Portfolio Manager: I'd Buy Right Now
The Dow Jones Industrial Average is modestly lower at this hour due largely to an uptick in the price in oil . On today's "Power Lunch," Sue Herera spoke with Jeff Krumpelman, the Senior Portfolio Manager at Fifth Third Asset Management -- who revealed why he'd buy, right now.
Jeff Krumpelman said "I think you could add to your position right in here. There is nothing that would prevent me from moving at these valuation levels; unemployment is at healthy levels and then there's the specter of Fed rate cuts - I'd move in here."
Krumpelman added that his firm feels good about the markets. He said "2006 will end on a positive note -and when we step back and look at the fundamentals and valuations backdrop, we like what we see. In a nutshell we think the market will be up in the low double digits in 2007."
"If you're looking for themes, we favor large over small - value over growth - high quality over low quality."