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Current DateTime: 05:18:16 30 Nov 2009
LinksList Documentid: 30328029

CNBC Stock Blog

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Nov.18
1:53 PM ET
Tuesday, 18 Nov 2008
Buy Everything But U.S. Treasurys: Strategist
Posted By:CNBC.com

Almost every asset class — with the exception of U.S. Treasury bonds — will provide good opportunities for investors willing to take a long-term view, says Fritz Meyer, senior market strategist at Invesco AIM.

"We see opportunity in the stock market very broadly, we see opportunity in emerging markets, in corporate bonds, municipal bonds, REITs, commodities, virtually everything you look at — except for U.S. Treasurys, because they have been the recipient of the flight to quality," Meyer told CNBC.

The markets are "extraordinarily cheap" at current levels and offer "exceptional value," Meyer said. Investors should take a long-term view over a year or two, he added.

"If you're willing to go way out on a limb and believe that the economy will recover over the next 12—18 months, something like that, well at 8-and-a-half times the '09 earnings potential, that represents an extraordinary earnings potential," Meyer said.

"I have no doubt in my mind that we will see recovery at some point," Meyer said.

Earnings recessions tend to last a year to 18 months before staging a recovery, according to Meyer.

"I'd guess you'd have to say we are of a like mind with Warren Buffett," Meyer added.

Disclosures:

Disclosure information was not available for Meyer or for his company.

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Current DateTime: 05:12:26 30 Nov 2009
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