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As the Dow hovered in the red after the extended 4th of July holiday weekend, fund managers offered investment advice to CNBC.
High Quality, Small Cap
"In an economy that's going to be growing you know a lot slower than we're used to in the past, I think having companies who can sell finance and who don't have to access capital is a real plus in this market ... they're free cash-flow generators. Tech companies have really good balance sheets."
- Jeff Cardon, Wasatch Small Cap Growth Fund
Volatility As Opportunity
“We’re going to look at that volatility as opportunities to add to the best names, to add to the themes we think are strongest heading into next year … a couple of the broad trends we see are mobile computing; that’s the shift towards 3G, new devices, next generation operational systems and hand-helds. Apple [AAPL
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] is a big position in the fund, and we think that Apple will continue to take share in mobile computing.
- David Eiswert, T. Rowe Price Global Tech Fund
Eiswert also likes Palm [PALM
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] and Microsoft [MSFT
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].
Volatility As Friend
“I tend to focus on where our biggest holdings are … things like Coke [KO
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], Pepsi [PEP
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], Newscorp [NWS
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], Viacom [VIA
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], Microsoft [MSFT
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] … we look at forward rates of return and the quality, so we’re very much like a bond buyer. The capacity to pay dividends is important but not the actual dividends. Volatility is the friend of a value manager. And they’re very good values.”
- Donald Yacktman, Yacktman Focused Fund
For More Investment Advice on CNBC.com:
- Your First Trades for Today
- Treasurys Look Pretty Risk Free: Charts
- Market Tips: Get Into Defensives Again
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Data is a real-time snapshot *Data is delayed at least 15 minutes