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Stock Strategist: Go 30% Long — and Don't Miss the Pullback

Tuesday, 18 Aug 2009 | 10:33 AM ET

This recovery is not going to be a sprint, but a marathon—and it’s going to take time to unwind, said Andrew Kanaly, chairman of Kanaly Trust Company.

Economy: To "V" or Not to "V"
Three letters of the alphabet are dominating the discussion over how the economic recovery will take shape, with Steve East, Height Analytics; Drew Kanaly, Kanaly Trust; and CNBC's Maria Bartiromo.

“If we look at what’s going on out there, we can still see unemployment rising,” Kanaly told CNBC.

“So where’s the consumer going to come from? Where’s the consumer growth going to come from?"

Kanaly said he expects foreign demand for industrial products and services to fuel the recovery, albeit slowly, and told investors to be about 30 percent "long" in their portfolios.

“If you have a higher percentage of your portfolio long than 30 percent, then this is probably profit time,” he said.

“If you’re underweight stocks still, look for this pullback to be a time to get in and to get broadly diversified.”

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Disclosure:

No immediate information was available for Kanaly or his firm.

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