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Locking Your Cash in Prison Stocks
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Prison stocks and waste management companies are the best places to lock cash in these turbulent times, due to their highly defensive value, Richard Wilson, fund manager at Threadneedle Asset Management told "Squawk Box Europe."
Wilson sees comfort and value in US prison stocks, like Corrections Corp. [CXW
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] , which owns and operates prison correctional facilities in the US.
Waste disposal companies are also good to buy, as there have been two interesting bids in the waste disposal arena in the US in the last month, he said.
Republic Services [RSG
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] initially bid for Allied Waste [AW
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] , then Waste Management [WMI
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] , one of the biggest waste disposal companies, made a bid for Republic.
People are attracted by the stability of the cash flows, the M&A activity and the good investment prospects, Wilson told CNBC.
"Anything really with relatively stable cash flows," he said, adding that another 'safe' sector is tobacco.
Data is a real-time snapshot *Data is delayed at least 15 minutes
