“The key is earnings,” Genter told CNBC. “Earnings is going to be the overriding story here and we see an overall improvement.”
In the meantime, Boockvar said the remaining issues in banks is concerning.
“The U.S. consumer is going through a deleveraging process that is going to take years [to recovery] so not only are banks dealing with rising credit losses related to that, they’re also dealing with continued declines in their residential portfolios and specifically commercial real estate,” said Boockvar.
Boockvar said banks are trading opportunities and not investments both in the short and long-term.
Genter and Boockvar said investors should consider the following sectors and companies for their portfolios.
Untied Parcel Services
RJ CRB Index
MSCI Emerging Markets
S&P Consumer Discretionary
No immediate information was available for Boockvar or Genter.