“So we think 2011 is going to be broken up into thirds, wherein the first third of the year, you want to own credit-sensitives, like the insurance companies, asset managers and the consumer cyclicals."
By summer, Lee recommended a shift into industrial cyclicals,” such as energy and airlines. He said to wrap up the last third “heavily focused on defensives.”
Lee said US GDP growth will accelerate to 3.5 percent in the last quarters of 2011, from 2.6 percent in 2010.
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Disclosure information was not available for Thomas Lee or his company.