Tech Looks Good—But Gold Is Like '1999': Chief Investor
Gold vs. technology—which is a better between now and the end of the year? David Katz, chief investment officer of Matrix Asset Advisors, and Frank Holmes, chief executive and CIO of US Global Investors, shared their insights.
“We would liken buying gold now to buying technology in 1999,” Katz told CNBC.
“There’s a lot of uncertainty in the markets and people are moving toward gold, but gold has had its run.”
Katz said investors should look into tech stocks that are selling at 10 to 11 times earnings.
“We think that there’s a great likelihood that if you buy Micosoft, Cisco, Dell, Corning at 10 times earnings with improving fundamentals short-term and intermediate term, that you’re going to do exceptionally well,” he said.
Holmes' View: Gold Will Be in Strong Demand Until 2011
Scorecard—What They Said:
- Holmes' Previous Appearance on CNBC (Jul. 6, 2010)
- Katz' Previous Appearance on CNBC (Aug. 19, 2010)
More Tech Market Analysis:
- HP vs. Dell—The Better Buy Now: Analysts
- Kneale: Why Isn't Google a $1,000 Stock by Now?
- Tracking Technology Could be Multi-Billion Dollar Opportunity
CNBC Data Pages:
No immediate information was available for Holmes or Katz.