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Kevin Cronin thinks technology is the way to play the current feeble market environment.
"Our view is that the market has some upside potential to it, but we're not all that optimistic," Putnam's head of investments told CNBC. "We think that economic growth continues to deteriorate, both here in the U.S. and globally."
So how to maximize the upside potential, in the face of slowing growth?
Recommendations:
"The tech sector and the utility sector have been two of the more defensive sectors over the course of the last year," he said. "We do find some attractive names in there, like Microsoft [MSFT
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], EMC [EMC
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], Adobe [ADBE
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]."
He has another pick -- but he's not sure it fits completely into technology:
"We debate whether Apple [AAPL
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] is a consumer company or a tech company, but we like Apple as well," he said.
Disclosures:
Disclosure information for Kevin Cronin was not immediately available.
Data is a real-time snapshot *Data is delayed at least 15 minutes