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Current DateTime: 01:33:46 24 Jul 2008
LinksList Documentid: 24355697

Current DateTime: 01:22:59 24 Jul 2008
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By Andrew Fisher | 25 Feb 2008 | 01:19 PM ET
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Picks and Pans

Five-star fund manager Barry James is known for his bearish views.  He's correctly predicted bear markets.

His Golden Rainbow fund is up more than 11 percent per year over the last five years.

He's not bearish now -- not, at least, near-term.

"We think we're at an inflection point right now," the president and portfolio manager of James Advantage Funds told CNBC.  "I'm bearish a lot of times when the Street is pretty bullish, but right now, we're pretty bullish on the next couple of months."

What looks good?

"Non-cyclicals should do well, overall, in a recessionary environment," he said.  "They haven't done much so far this year."

He's talking especially about McDonald's [MCD  Loading...      ()   ] and Archer Daniels [ADM  Loading...      ()   ].

"The techs have been so beaten down, there's some real opportunities," he also said.  "You look at Hewlett Packard [HPQ  Loading...      ()   ], or Seagate [STX  Loading...      ()   ], or Lockheed Martin [LMT  Loading...      ()   ], I think there's some real opportunities there.  The techs are really selling cheap."

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