Stock Picker: Buy Black Ink
When it comes to where investors should put their money now, Delphi Management's Scott Black is very specific.
The economic crisis is far from over, he told CNBC, so short-term investors should keep their money in cash equivalents like Treasurys. But long-term is a different story.
"For people who have a longer-term horizon, my suggestion is, you buy companies with sustainable earning power and bulletproof balance sheets," he said.
So what has he been buying?
"In the tech sector, two companies we bought were Oracle and Automatic Data Processing," he said. "In the pharmaceutical area, be bought Novartis, and we have a little company nobody ever heard of, but keeps growing double digits, called Endo Pharma(Pharmaceuticals Holdings) ."
Disclosure information for Scott Black was not immediately available.