Market a 'Gem of Opportunity': Strategist
Despite the recent market turmoil, one strategist says investors should ignore the noise and get investing. Jack Bouroudjian, CEO of wealth management company Bull and Bear Partners, suggests putting money into selective assets.
“You’ve got to buy gold right here, you can [also] buy very good quality U.S. stocks,” Bouroudjian told CNBC. “This is a gem of an opportunity amid all this dysfunction.”
Bouroudjian warned that now is not the time for investors to pull their money out of the markets.
“Back in late April, I put out a piece that said this is a time to buy protection, not sell and walk away,” he said.
“Anybody who puts money to work is going to be very happy in six months to a year from now. It’s all about trying to ignore some of this noise that’s around us.”
As far as Europe is concerned, Bouroudjian urged the European Central Bank to introduce additional stimulus measures.
“There is one solution, and one solution only and that is quantitative easing [in Europe]. The Europeans need to get together, print up money and do what’s necessary,” he argued.
“It’s one of the missing ingredients and one of the big political problems they need to overcome.”