Buying Opportunities in Defense Tech
Defense technology and defense information technology are two areas investors want to be in right now, according to Alex Hamilton, senior managing director at Jesup & Lamont.
“One main reason we like to invest there is, obviously, there’s no credit crunch in defense,” he told CNBC.
His other main reason is a cyber-security inititiative being pushed by the Pentagon.
“It’s a multi-billion dollar, multi-year initiative to protect computers, protect bank accounts (and) protect the Pentagon’s computers," he said.
Hamilton’s favorite names in the sector are SAIC , Caci International and ManTech.
For investors wondering how the fast-approaching presidential election could affect this sector, Hamilton says defense spending likely to remain strong regardless of who wins.
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Disclosure in formation was not available for Hamilton or his firm.