It's Time to Buy (Believe It or Not!)
Barry James, president of the James Advantage Funds, thinks the market is in a bottoming phase, and he sees a rally on the horizon.
“We don’t think we’re out of the overall bear market, but we think it’s time to buy, and you should look at securities that will hold over the long haul," he said.
His first pick is BJ’s Wholesale Club , which he says is relatively cheap right now.
“They’ve had membership hold up very strongly, they’ve had good earnings gains and good sales gains in this environment,” he added.
In the tech sector, he thinks Hewlett-Packard is best in breed.
“They’ve got revenue gains in every segment...except the printer hardware. Their earnings have been strong…they’re obviously laying off a lot of people, which isn’t good for those folks, but that’s going to add to the bottom line."
His last pick is Boston Beer .
Disclosure information was not available for James or his company.