|
CNBC'S MOST SHARED
- Unemployed? Bored? Make Money Playing Beer Pong
- Warren Buffett's Top Three Investment Rules for the Average American
- The Highest Grossing (Inflation Adjusted) Movies of All Time
- Geek Squad V. Gizmodo
- Merrill's McCann Seen as UBS Wealth Frontrunner
- Social Networking's 'Naked' Truth
- Blog You!!!
- Why the Credit Pendulum Is Stuck at 'Stupid'
- WPP's Sir Martin Sorrell on the Ad Recession
- Why the Credit Pendulum Is Stuck at 'Stupid'
- Cheney Told CIA to Withhold Information: Report
- 'Bruno' Fashions Top Spot at US Box Office
- Stimulus Will Kick in Later this Year: President Obama
- Lender CIT Group Hires Premier Bankruptcy Adviser
- Government Selling Bank Stakes for Too Cheap: Panel
- Buffett's Top 3 Investment Rules for Average Americans
- Market Insider: Earnings Loom in the Week Ahead
- Bulls Get Summertime Blues, But It's Hot Fun for Bears
- Eric Schmidt on Government Scrutiny and Economic Recovery
- Market 360: The Week's Best & Worst
- Geek Squad V. Gizmodo
- Brandt: Google Chrome OS in the Post-PC Age
- Other People Are Weirder Than We Are
- Bank Failures: Is The Nightmare Over? (Video)
- California Here I Go? No.
- Roginsky: No More Mr. Nice Guy
- Commercial Conundrum
Text Size 
 |
After a rough start, top investment officers are looking for gradual improvement as 2008 goes on. Harbor Advisory's Jack DeGan is among them, and he won't sugar-coat the current situation.
"We're still very defensive," DeGan told CNBC. "I think it's going to be very difficult for the consumer to do well in this environment."
He predicts disappointments in earnings and projections to be reported this week, but calls for investors who have been defensive to start moving back into the market between now and the end of the year.
Unlike some strategists, DeGan suggests financials for the short term, but says long-term investors should wait for even lower prices.
"I would rather be late on financials, miss the bottom, but be more certain the bottom is in, than try to be early," he said.
Recommendations:
Getting specific, DeGan picks Berkshire Hathaway [BRK
Loading...
()
], Johnson & Johnson [JNJ
Loading...
()
], Abbott Laboratories [ABT
Loading...
()
], Procter & Gamble [PG
Loading...
()
], Pepsi-Cola [PEP
Loading...
()
], and Allegheny Energy [AYE
Loading...
()
].
"These are all businesses that have proven track records, great management, strong balance sheets, and are very defensive,' he said.
Disclosure: Neither DeGan nor his family owns shares of Berkshire Hathaway, Johnson & Johnson, Abbott Laboratories, Procter & Gamble, Pepsi-Cola, or Allegheny Energy, but they are investment banking clients of his firm.
Print
Email
Data is a real-time snapshot *Data is delayed at least 15 minutes