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On a day when the market's under pressure and lots of red ink is flowing, where's a stock-market investor to go?
Bernie McGinn, founder of McGinn Investment Management, named a couple of companies he believes have already turned the corner to a comeback.
Investor Takeaway |
McGinn's first pick is deep in the heart of financials: AIG [AIG
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], which posted a record quarterly loss this month, after posting an $11 billion mortgage-related write-down.
"I would buy it right here," McGinn told CNBC. "The $11 billion write-down, it's not really an economic event, it's an accounting event."
Last week, AIG urged regulators to change controversial accounting rules on asset valuations.
McGinn's other pick is troubled carmaker Ford Motor [F
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"Ford is my big turnaround story," he said. "The story with Ford is, is basically it's forever and ever been a dysfunctional family business. About a year and a half ago, they hire a new CEO, and he is transforming that firm, just like he did Boeing, back a few years ago."
Disclosure: McGinn and his family own shares of AIG and Ford.
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