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Stock Picker: 'The Deals Are There' Now
Jason Pride of Haverford Investments thinks the time to get into stocks is now.
"The big fundamental change that's occurred over the past year is that stocks are down significantly from where they were before," he told CNBC. "The deals are there."
He does concede that significant problems remain to be solved.
"It's going to take a little while to stabilize out the system," he said. "The first and second quarters are not going to be very pretty, but when we get into the second half of this year, the economy should be looking like it has a much more solid underpinning."
Pride expects to see growth resume next year.
Recommendations:
"We've been owning, and continue to own, consumer staples companies like Walmart [WMT
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], CVS (Caremark) [CVS
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], companies that are still growing their earnings base in this environment," he said.
"We've started to move into more economically sensitive areas, particularly the energy space; our largest holding there currently is Exxon Mobil [XOM
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]."
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Disclosures:
Disclosure information for Jason Pride was not immediately available.
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