Market Weakness Buying Opportunity: Strategist
David Hefty, principal of Cornerstone Wealth Management and Gary Hager, president and founder of Integrated Wealth Management share their investment advice and the best place for viewers to put their money.
“I look at the [market weakness] as a buying opportunity,” Hager told CNBC. “I’ve been bullish for a while…When the March lows were set and when we climbed out of there, we saw the worst past us.”
Hager said he is bullish on commodities and that investors need to take positions in commodity stocks, physical commodities or the energy sector.
In the meantime, Hefty said this is not a selling opportunity.
“Being bearish in today’s market is being realistic with the things going around,” said Hefty. “We’ve burned through six months of inventories with nothing getting made in this country. It’s finally starting to get to the point where we’re getting some orders in, but consumer demand is still weak”
He said although the recession can end, the economy will be “trudging along for the next 3 to 5 years of just sideways markets.”
Despite their different market outlooks, Hager and Hefty offered the following recommendations to investors:
Gold COMEX (Aug)
S&P Health Care
DJ Real Estate
No immediate information was available for Hager or Hefty.
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