Investors looking to get back into stocks should focus on industry leaders that are in a strong position to weather the current economic turmoil, Fred Fraenkel, vice chairman of Beacon Trust Company, told CNBC.
"The idea is to get the 'best-of-breed' companies within an industry, companies that will clearly survive the recession and get to the other side," Fraenkel said.
In the technology sector, Fraenkel likes online retailer Amazon because it’s in a “good position for the long run.”
Fraenkel also advised investors to take part in the rebuilding of US infrastructure by buying into the industrial and material sectors.
"Don't look for companies that are distressed and looking for a rebound," he said. "Look for companies that have positioned themselves going into the recession so that they knew they would do well coming out."
- Watch the full interview with Fred Fraenkel above.
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