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Expect Euro to Start Recovering: Chief Investor

Wednesday, 19 May 2010 | 3:00 PM ET

What impact will Germany’s naked short-selling ban have on the U.S. markets? Lee Eugene Munson, chief investment officer at Portfolio Asset Management shared his insights and favorite stocks.

Too Much FinReg?
Discussing what impact Germany's nake short-selling will have on U.S. markets and the impact of financial regulation, with Lee Munson, Portfolio Asset Mgmt. and CNBC's Rick Santelli.

“It calls into question what the Germans are thinking,” Munson told CNBC.

“Naked short-selling is a wrong thing and when Germany comes out as if this is some sort of great revelation, the sentiment is ‘what else can they come out with, if they can’t understand the basic idea that this should have been banned a long time ago?’”

Munson said there’s still a lot of anxiety and uncertainty on Wall Street due to a lack of credibility.

Meanwhile, he said the euro is going to see a bounce.

“We’ve got a lot of short-sellers out there starting to unwind,” he said. “I think this is the place where the euro starts to recover—I think we see it go back to $1.25 to $1.30 against the dollar.”

Munson Likes:

Bank of America

Goldman Sachs

JPMorgan

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Opposing View:

  • Euro Is in Danger: Germany's Merkel

Scorecard — What He Said Last Time:

  • Watch Munson's Previous Appearance on CNBC (May 7, 2010)

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Market Point/Counterpoint:

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CNBC Data Pages:

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CNBC Slideshows:

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CNBC's Companies in the News:

Toyota

Target

  • Target Profit Beats on Clothing, Electronics Gains

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Disclosures:

No immediate information was available for Munson or his firm.

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Disclaimer

  Price   Change %Change
BAC
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GS
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JPM MLP ETN
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TGT
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7203.T
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