Ronald Weiner, president and CEO of the RDM Financial Group, says his two favorite stock picks are in the defense and energy sectors.
“Defense is always in vogue…and it’s always going to be there. Now you not only have what’s going on in Russia, but the U.S. not having a whole lot of troops, they’re going to have to invest in more technology.
"The other thing is, unfortunately, the rest of the world is getting richer and richer, and they can afford this stuff. It’s not a great outlook for the world, but for our clients we have to go where the action is, and defense is there -- Lockheed Martin mostly.”
In the energy sector, Weiner says he’s trading in Exxon and Chevron for Hess -- which he says has better reserves and better drilling prospects than the majors.
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Weiner also likes Qualcomm and Johnson & Johnson .
Disclosure information for Ronald Weiner was not immediately available.