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Schwab's Vivienne Hsu says she's "defensively optimistic" about the market. Optimistic about technology and industrials; defensive about financials and consumer discretionary.
Her favorite stocks? A swimwear manufacturer and a steelmaker.
Hsu -- whose four-star Schwab Hedged Equity Fund is up an average of 10.73 percent per year over the last five years -- is very wary about financials.
More CNBC Investment Ideas: |
"The light at the end of the tunnel will have to come when there's more clarity in the financial area," she told CNBC.
"Right now, we are reducing a little bit of our exposure in our underweights."
Recommendations:
Swimwear maker Warnaco [WRNK
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"We like it for its fundamentals," she said. "Warnaco's a turnaround story since 2003. It's been able to grow organically, so that's one of the big pluses."
She also likes AK Steel [AKS
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AK is the U.S.' third-largest integrated steelmaker.
Disclosure:
Vivienne Hsu does not personally own either stock, but they are both in her fund.
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