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Time to Get Defensive—Invest Here: Stock Picker

The markets have doubled from the March 2009 bottom and have come a long way since, so investors should be defensive, said William Muggia, president, CEO and CIO of Westfield Capital Management.

“Right now, we’re a little bit defensive on the markets,” Muggia told CNBC.

“You’re seeing some signs of slowing in emerging markets, so we like health care and staples—[we're] being a little defensive.”

Muggia’s Picks:

Celgene —“It’s the fastest growing biotech—yet only trading at 14 times forward earnings,” he said of the firm.

General Mills —“The cereal category’s improving—they just did a deal with Yoplait and you get a 3 percent dividend yield while you wait.”

Priceline.com

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Scorecard—What He Said:

  • Muggia's Previous Appearance on CNBC (May. 6, 2011)

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More Market Intelligence:

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CNBC Data Pages:

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CNBC Slideshows—FYI:

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Wednesday's Top Dow Gainers (As of Mid-Morning) :

Intel

Chevron

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Disclosures:

No immediate information was available for Muggia or his firm.

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Disclaimer