Stock Picker: Ride the Bat Out Of Hell
These days, just about every stock picker in the business will tell you to be in the market for the long term. Broadleaf Partners president and chief investment officer Doug MacKay is no exception, but he's willing to go out on a limb for an investor who absolutely must have some short-term gains.
He quotes hockey great Wayne Gretzky, who once said, "Skate to where the puck is going to be."
Actually, it's the highway MacKay wants to get out on. His pick is Harley-Davidson.
"We know now, officially, that we've been in a recession for 11-12 months," he said. "Early cyclicals have tended to lead the way out of that...companies like Harley-Davidson, trading at five-times earnings, great American brand, credit starts to improve, that's probably a good buy here."
Disclosure information for Doug MacKay was not immediately available.