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CNBC News Associate
Brent Wilsey, president of Wilsey Asset Management, and Rod Smyth, chief investment strategist of Riverfront Investment, shared their economic outlooks and advised investors on how to seek maximum profits. (See their recommendations, below.)
“We are not headed for another bottom at all,” Wilsey told CNBC. “At best, we will fall maybe 5 to 10 percent, but we’ll never see that bottom again.”
Wilsey said investors may wait until after the earnings to invest, but that could be a mistake.
In the meantime, Smyth said markets are in the midst of a correction.
“We are in unprecedented economic territory,” said Smyth. “People are looking at every bit of data. The recent weakness in the data came from the auto shutdowns from a couple of months ago. [But] as the auto companies start up again, you’re going to get more green shoots.”
He expects the correction to continue into the summer, but with only a 5 percent downside.
Wilsey Likes:
Biogen Idec [BIIB
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Genuine Parts [GPC
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Cintas [CTAS
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Smyth Likes:
MSCI Emerging Markets [EEM
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Technology
Health Care
Consumer Staples
Disclosure:
No immediate information was available for Smyth of Wilsey.
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Data is a real-time snapshot *Data is delayed at least 15 minutes