Cunningham said he favors the multinational firms that can “compete successfully” overseas.
“Long-term, there’s not a lot of pressure for the dollar to go up—it’s going to go down,” he said.
“Although it rallied 8 percent since the beginning of December, we think the long-term trend is flat to negative.”
As a result, Cunningham said the weak dollar should benefit the multinationals.
In the meantime, Ablin said he likes commodities.
“We took money out of international stocks about a month ago,” he said. “The argument is that interest rates can’t offer protection against erosion of inflation...and that’s where the commodity position resides.”
Ablin said although he is a believer in the emerging market economies, the stocks are on the expensive side.
“I’d rather export key pieces to the emerging economies and play commodities, rather than jumping into the emerging markets with both feet,” he concluded.
More Market Views:
CNBC Data Pages:
CNBC's Companies in the News:
- Pfizer Alzheimer's Disease Drug Fails in Study
No immediate information was available for Ablin or Cunningham.
* General Electric is the parent company of CNBC.