Gerald Jordan, portfolio manager at Jordan Opportunity Fund, said that investing in large cap stocks is the way to go.
Medtronic -- “[The company] reported earnings today, good number -- revenue up 19 percent. It’s pretty good for a large cap name in this environment. They’ve made a bunch of acquisitions, which are now starting to pay out for them. This is not going to be a 30 to 40 percent grower, but I think this could be a stock in the high $60s, low $70s by next year.”
Jordan’s other picks included stocks in the energy sector:
Schlumberger -- “I’m still a believer in the oil cycle. Drilling intensity, both domestically and internationally, is going to accelerate here. We’ve got a bunch of off-shore rigs that have to be delivered over the next three years. They will benefit from that as well. This stock is supposed to earn up to $6 next year, I think the number is closer to $7.”