Conventional wisdom says that if investors use their discretion, they won't have anything to do with consumer discretionary stocks. Jeff Krumpelman begs to differ.
His four-star Fifth Third Lifemodel Fund is up an average of 8 percent per year over the last five years.
"It's one of two unloved areas in the market right now, financials being the other," Krumpelman admitted to CNBC. "It's actually a rich, fertile disparate area, one of the more pleasurable sectors in the market to look at."
Topping his picks in the sector is Borg Warner.
"It's a beneficiary of the secular drive toward global demand for fuel-efficiency and clean-air emissions," he said. "As a result of this need for turbochargers and transmissions that lead to better fuel efficiency, these guys are gaining share, getting more traction with the auto companies, and driving 15 percent earnings growth."
More predictably situated in the consumer-discretionary sector are Carnival and Comcast.
Carnival stands to benefit from falling oil prices, and Comcast recently posted higher second-quarter profits and reported strong sales of its video-phone Internet packages.