Time to Buy Beaten-Down Stocks
Ted Parrish, co-portfolio manager of the Henssler Equity Fund, thinks it's time to get involved in some out-of-favor sectors like consumer cyclicals and even financials.
"We think that consumer cyclicals are in a good position right now," he told CNBC. "We would avoid some of the bear traps like housing stocks and some of the fattest retailers."
So where does he see opportunities for your portfolio?
"Niche consumer cyclicals like Garmin, the GPS-device maker, are a good way to experience some pretty high returns going forward this year," he said.
And he's even attracted to a bank.
"We bought some Bank of America last week," he said. "Even though they have a big issue surrounding the dividend, and whether they're going to cut it...I think the company's in a position to do extremely well coming out of this rough patch.
- Learn more: Watch the entire Parrish interview (3 mins, 39 secs)
Full disclosure information for Ted Parrish was not immediately available.