Stock Picker: 'Boring is Beautiful'
Peter Andersen has a succinct theme for his stock market choices in this fragile market: Tobacco, cans and bottles.
"Frankly, I think boring is beautiful right now," the Congress Asset Management portfolio manager told CNBC.
So who's boring — and beautiful — to Andersen?
Philip Morris International, Owens Illinois, and Crown Holdings.
"These companies have hardly any new capital requirements," he said. "There are a lot of CFOs out there right now that aren't getting much sleep, because they do have to go to the capital markets for financing."
He finds it "extraordinary" that Philip Morris International has actually raised its dividend recently.
- Click to see the CNBC Andersen interview
- Picks & Pans: Trade w/ The Experts
Disclosure information for Peter Andersen was not immediately available.