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CNBC News Associate
Jason Pride, director of research at Haverford Investments, and Andrew Kanaly, chairman of Kanaly Trust Company shared their outlook on the economy and where investors should put their money.
“It’s still a bear market rally and you’re going to see pullbacks all along the way,” Kanaly told CNBC. “This one may very well have some time to go.”
But Pride told investors that this is the “beginning of a new bull market.”
“We think that anybody out there saying that this is just a bear rally is way too hopeful that they’re going to find another bottom to get back in,” he said.
Recommendations:
Pride Likes:
CVS Caremark [CVS
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Walt Disney [DIS
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Air Products & Chem [APD
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In the meantime, Kanaly said while he is not entirely on the sidelines, this recovery has a long way to go.
“To look at this by normal economic projections, the serious indebtedness overhanging this economy is going to take years to unwind,” he said. “This is not your typical recovery.”
Kanaly Likes:
Emerging Markets
Kanaly Dislikes:
S&P Financial
S&P Consumer Discretionary
Disclosure:
No immediate information was available for Pride or Kanaly.
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