Stock Picker's Surprising 80% Solution
Did we hear right? Did we hear Charles Crane of Scotsman Capital Management say that if someone walked in with new cash today, he'd put 80 percent of it into stocks?
"Absolutely, because even though I don't know where the market's going to go over the course of the next six weeks, six months, give me a couple of years, and I think stocks will be higher," he told CNBC. "Regardless of whether you think the market's going to be higher, I think if you look at the individual components of the market, there are plenty of stocks that are attractive if you've got a two- to five-year horizon."
So what company is he ready to name right now?
"Automatic Data Processing," he said. "With the jobs report, you'd think that this company's business would be going down, down, down, yet this is a company whose earnings continue to go up, up, up."
Disclosure information for Charles Crane was not immediately available.