Fishing For Financials & Trading Tech
Investing in financials or trading technology stocks? Marc Pado, U.S. market strategist for Cantor Fitzgerald and Dan Genter, president, CEO and chief investment officer of RNC Genter Capital Management offer CNBC their stock picks.
Buy financial stocks now for a long-term investment, but be very selective, Genter said.
He said some financial stocks have not been damaged and will survive the “capitulation.” Genter recommends JPMorgan, US Bancorp and Lincoln National.
“They are fundamentally sound, they’ve just been caught in this carnage…they’re going to come out the other end of the pipeline,” he said.
Pado was less eager about investing in financials and said he preferred investing in technology.
“Technology is avoiding a lot of the credit crisis and enjoying some of the multinational exposure with the lower dollar. Really, they have been lean and mean for a lot of years,” Pado said.
Genter also recommended investing technology, but on the “semi” side:
His stocks of choice for semiconductors include Corning, Intel and Taiwan Semiconductor Manufacturing.
He said he believes the market for semiconductors will continue to be strong.
Disclosure information was not immediately available for Marc Pado or Dan Genter or their respective companies.