Stock Picker: Old Reliables for the New Year
With a year of certain uncertainty now under way, Peter Andersen looks to reliability as a theme for stock-market investors.
"I would say the motto for 2009 is, 'Stick with the staples,'" the Congress Asset Management portfolio manager told CNBC. "We're looking at solid, large-cap companies that have very strong dividends."
So when you throw stocks at Andersen's wall, what sticks?
His list includes Diageo, Kraft Foods, and Philip Morris International.
"All three of them have common themes," he said. "They're in the staples sector, they pay high dividends, and they appear to be sustainable high dividends, that's the most important part of those three names."
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Disclosure information for Peter Andersen was not immediately available.