Three Stock Picks for Today's Portfolios: Money Manager
The best conservative, long-term value stock is American Tower, the global provider of wireless and broadcast towers, Gerald Kaminsky, money manager of Neuberger Berman, and father to Gary Kaminsky, told CNBC on Tuesday.
"American Tower , the least risky way to play mobile communications—one of the major, major trends taking place, exemplified today if you look at Verizon," Gerry Kaminsky said.
In terms of high-risk, potentially high-end plays, Blackrock is very volatile depending on how the financial market prices, which “is going to effect earning prices up and down," Gerry said
"But here's a company that started for 20 years, fixed income, now becomes something that is both equity and fixed income, both passive and active, dramatically changed," he said.
"You've had a 30-year bull market in bonds, the probability of that is not so great. And now going forward it's going to be different and they're going to be a major player—it speaks to their management and capability," Gerry said.
With conversation heating up over the municipal bond market, on both ends of the spectrum, "the single most important thing about the muni market in the last ten weeks is it shows you what's happened in the financial world by the creation of ETFs [exchange-traded funds] and open-end mutual funds. And what can happen when liquidity and perception changes," he said.
After appearing on the show, Gerald Kaminsky, continued the discussion off-camera, about another high-risk but potentially high-end stock, TeeKay Shipping.
"TeeKay Shipping is a really simple story, just like Blackrock was, in that its major change, and when a company management undertakes major change it doesn't happen in a day or a week or a quarter—has to programmed out over the years," Gerry said.
"Very simply, the parent TeeKay is in shipping. Its three daughters that are publicly held, the distributions from two of the daughters who have long-term contracts provides enough cash upstream to more than cover the distribution TeeKay pays, plus Teekay is retiring stocks. You'll see rising cash flow and its going to be used to benefit the stockholder of the parent," he said.
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