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CNBC News Associate
Strategists Dean Curnutt, president of Macro Risk Advisors and Daniel Frishberg, chief investment strategist at Laffer Frishberg, said they are weary of the financial stocks.
“Financials are very sensitive to consumers,” Curnutt told CNBC. “And the consumers’ biggest problem is housing and delinquencies on the mortgage side. [And] trends in those are not getting better.”
He recommended caution until further signs that the volatility in the financial sector subsides.
Frishberg said although there may be some pullback, the market rally has legs.
“People are appropriately moving their time horizon out a little bit,” he said. "Instead of it being by the week, it’s now 6-months to a year.”
Frishberg's Recommendation:
Frishberg advised investors to look into natural gas [US@NG.1
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], saying it will generate very reliable profits over the next 10 years.
“There’s no brand, so there’s not a lot of unexpected stuff,” he said of natural gas. “Natural gas is cheap compared to oil, and things like windmills, you have to have 70 percent natural gas power every time you build a windmill. We know how to do it, and we have plenty of it.”
Disclosure:
No immediate information was available for Frishberg or Curnutt.
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CNBC's Companies in the News:
AT&T [T
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Wells Fargo [WFC
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Bank of America [BAC
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