Stock Strategist: Two Conservative Stocks for 2009
The new year is still three weeks away, but Keith Wirtz of Fifth Third Asset Management has a couple of stocks he thinks investors ought to own in 2009.
Both are stocks of conservative companies he likes because of their fundamentals, and are likely to do well as the market recovers. So has the market bottomed yet?
"I wouldn't say that we've reached that bottom," Wirtz told CNBC Thursday. "Until we see earnings and expectations on earnings adjusted to a more reasonable level, it's hard for us to suggest we've hit that floor."
Wirtz's first pick is Flir Systems.
"This is a company that provides to the marketplace thermal imaging and surveillance equipment," he said. "It's got two end users: The government itself as well as commercial use, and we think it's got great visibility in 2009."
He also likes Abbott Laboratories.
Disclosure information for Keith Wirtz was not immediately available.