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Gerald Jordan, portfolio manager at Jordan Opportunity Fund, said that investing in large cap stocks is the way to go.
Recommendations:
Medtronic [MDT
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] -- “[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 [SLB
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] -- “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.”
Peabody Coal [BTU
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] -- “The world’s not running out of coal, but easily-mined coal for the accelerated demand that we’re seeing is not coming out. We don’t have enough coal right now. And we’re not going to have enough for the next two-to-four years.
"China has shut down some of their aluminum smelters as well as three percent of their electric utilities because they’ve run out of coal. That is not bearish for coal. The street’s looking for $6 for next year, I think the number is closer to $8 or $9. I think this is a $100 stock.”
Disclosure
No immediate information was available for Gerald Jordan or his fund.
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