CNBC Stock Blog

Market Pro: Buy DC 'Scapegoats' Banks & Health Care

Now is a good time for investors to be overweight the health care and big financial sectors, said Doug Sandler, co-founder of Riverfront Investment Group. He shared his sector picks and pans.

Market Pro Betting on Health Care & Banks

“Washington scapegoats tend to be Wall Street bargains,” Sandler told CNBC.

“And health care is one of those areas that were left largely out of 2009’s rally. We think it’s going to be the sector of 2010.”

Overall, Sandler said he is impressed by the economic data and companies beating earnings estimates—especially in technology.

“So all good things underneath the surface are there,” he said. “We just needed to pull back and where it stops, nobody knows…it’s a buying opportunity and not a selling opportunity.”

However, Sandler recommended investors to be underweight utilities and telecom.

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Top Financial Firms:

Goldman Sachs

Morgan Stanley

JPMorgan Chase

Bank of America

Wells Fargo


No immediate information was available for Sandler or his firm.