Strategists: Market Pullback Has Created Good Buys
By: An optimist sees the opportunity in every difficulty, said Winston Churchill. Investment strategists Steve Folker and Alan Gayle gave "Morning Call" viewers the same advice.
Folker, the managing director for growth strategies at Fifth Third Asset Management, said "we've probably seen the worst" of the market pullback. He told CNBC's Mark Haines that the "underpinnings are pretty positive" for the remainder of 2007 -- and sees an environment with plenty of buying opportunities: "Lots of companies are going to show good earnings growth this year."
Gayle, the senior investment strategist at Trusco Capital Management, agreed with Folker that the selloff "won't go much further." He explained that the market "is adjusting to a much slower growth environment." But he believes that, even if 2007 is likely to miss the "stellar performance" of recent years, "the consumer will hang in there this year."