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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.
Recommendations:
So what has he been buying?
"In the tech sector, two companies we bought were Oracle [ORCL
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] and Automatic Data Processing [ADP
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]," he said. "In the pharmaceutical area, be bought Novartis [NVS
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], and we have a little company nobody ever heard of, but keeps growing double digits, called Endo Pharma(Pharmaceuticals Holdings) [ENDP
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]."
Disclosures:
Disclosure information for Scott Black was not immediately available.
Data is a real-time snapshot *Data is delayed at least 15 minutes