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Time to Buy Beaten-Down Stocks
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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."
Recommendations:
So where does he see opportunities for your portfolio?
"Niche consumer cyclicals like Garmin [GRMN
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], 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 [BAC
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] 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.
Disclosures:
Full disclosure information for Ted Parrish was not immediately available.
Data is a real-time snapshot *Data is delayed at least 15 minutes
