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As downgrades to Wall Street banks sent the Dow, Nasdaq and S&P into negative territory, CNBC asked the experts for investing advice.
Investing in Leisure
“If you go out 18 months or 24 months, this really is a terrific opportunity to start accumulating the stock. We’ve got an industry that’s going global here. It’s going—it’s reaching out beyond North America into some of the fastest growing markets in the world… Companies like Marriott [International] [MAR
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] have an opportunity to go global, to take advantage of the growing fluidity of travel between different nations.”
- William Crow, Raymond James & Associates
Assessing Financials
"The bottom line here is everybody hates them; nobody wants to stick their toe into the water in this group whatsoever. And, I think if you do it through the XLFs, exchange-traded funds, you can avoid some of the implosions that might occur within the group, but still participate in the turnaround that I see...The bottom line is I think the group is attractive for the next couple of years."
- Ned Riley, Riley Asset Management
Bullish on Commodities
"Freeport McMoRan [FCX
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] is the biggest copper producer in the world...it's got a great portfolio, it only trades about seven times cash flow right now, they're going to increase their production of copper by about half a billion pounds next year; a lot of growth in the pipeline."
- Thomas Winmill, The Midas Funds President & Portfolio Manager
Winmill also likes: Kinross Gold [KGC
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] and Lihir Gold Limited [LIHR
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].
Hedging Against Inflation
“We’re probably well-served to be thinking about inflation…I think you want to stay invested in energy and commodities long-term. I think you want to stay invested in emerging markets. These are the inflation drivers, and inflation wasn’t just a passing problem…Oil prices probably go higher over the long term, and so investors need to be hedged against inflation.”
- Fritz Meyer, Invesco AIM Senior Market Strategist





