This Is a Chance to Buy Good Quality Stocks: Krosby
The Dow tumbled more than 100 points on Friday, despite an encouraging sign on the jobs front, after some more swings between positive and negative territory in the first half hour of trading. How should investors be positioned in the wake of Thursday’s wild market actions? Quincy Krosby, market strategist at Prudential Financial, shared her insights.
“This has been an abbreviated move and we’ve been moving the portfolios from a high beta stance to a more cautious portfolio," Krosby told CNBC.
"And this is giving us an opportunity to get those very stocks that we want,” she added.
Krosby said she is looking into investing in the more steady, good quality, dividend stocks.
“We will have some of the high-cyclicals in there, but they will be the less-beta names like technology, consumer discretionary, industrial—but it will be more defensive,” she said.
- Watch Krosby's Previous Appearance on CNBC (Mar. 19, 2010)
More Market Point/Counterpoint:
- Get Out of Stocks and Into Bonds: Portfolio Manager
- 'Very Strong' Buy Signal in Valuations: Art Hogan
- Where to Invest When 'Blood Is in the Streets': Mike Holland
CNBC Data Pages:
Friday's Dow Laggards (as of this writing):
No immediate information was available for Krosby or her firm.
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