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Benjamin Halliburton acknowledges a global slowdown, but he doesn't think it will lead to a "bust" in the infrastructure build-out.
"When you look at the long-term trends in infrastructure, they're still going to be up," Tradition Capital Management's chief investment officer told CNBC.
Recommendations:
Infrastructure
That leads him to recommend Foster Wheeler [FWLT
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"There's still these huge power projects that are going to take place," he explained. "Foster Wheeler should earn at least four dollars next year, and they're going to continue to have backlog growth into '09."
Others
Other recession-resistant stocks he likes include Vodafone Group [VOD
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] and drugmaker Schering Plough [SGP
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Disclosures:
Disclosure information was not immediately available for Benjamin Halliburton or his company.
Data is a real-time snapshot *Data is delayed at least 15 minutes