"We need to look at companies that can benefit from the trade-down effect," he said.
Lert also liked the health care sector. In addition, he also recommended tech stocks, larger caps and sustainable growth stocks.
“I would buy [stocks] now, but I’m not as enthusiastically bullish as I was six years ago -- this time in 2002 -- when I thought stocks were more depressed and bonds were even more expensive," he said. "I think stocks are attractively valued, but I don’t think bonds are. I think now’s a good time to buy stocks.”
However, DiFilippo said financials and consumer discretionary stocks “are areas that must be looked with caution,” while Lert was “not enthusiastic about energy and the commodities sector.”
Top Health Care Stocks:
- Johnson & Johnson
Top Consumer Staples Stocks:
- Procter & Gamble
Disclosure information for Mat DiFilippo and Randy Lert was not immediately available.