Stocks opened sharply lower and kept falling on Wednesday. How should investors be positioned? Adam Bold, founder and chief executive of The Mutual Fund Store—rated the US' top independent investment advisor by “Wealth Manager” magazine—discussed his market outlook.
“Corporate earnings are coming in better, the consumer is back, we’re in a much better economic climate than we were a year ago and I think there’s still opportunity to surprise to the upside,” Bold told CNBC.
Meanwhile, Bold said he expects the Republicans to get enough Senate seats during the upcoming midterm elections to ensure the Democrats “can’t do anything dramatic.”
“The markets do like gridlock—this Congress has run rampant and has done whatever they’ve wanted,” he said. “What we will see, no matter what, after these midterm elections is that the wide-sweeping, environment-changing political scene should change.”
Bold’s Fund Favorites:
James Balanced Fund
FMI Large Cap Fund
Thomas White International
Scorecard—What He Said:
- Bold's Previous Appearance on CNBC (Apr. 21, 2010)
Market Views—Across the Board:
CNBC Data Pages:
CNBC's Companies in the News:
Research In Motion
India May Temporarily Ban Some BlackBerry Services
No immediate information was available for Bold or his firm.