Stocks extended their losses Thursday following a handful of disappointing economic news. Where is the best place for investors to put their money? Brent Wilsey, president of Wilsey Asset Management, David Zervos, chief strategist at Jefferies Fixed Income, and Sterling Smith, soft commodities analyst at Country Hedging, discussed their insights.
Invest in Large Caps...
“I’d have to go to stocks,” Wilsey told CNBC. “The only thing that works is not following a crowd and buying low.”
Wilsey advised investors to put together a diversified portfolio with stocks that have low valuations, high growth rates and good dividend yields. In particular, Wilsey favors VistaPrint and Corning .
...Commodities
“I really like gold and yesterday’s price action was outstanding,” Smith told CNBC. “I’m not convinced that the European situation is over and gold is a proxy currency against a weak euro currency and dollar that can’t gather any strength.”
Smith said he expects to see gold prices hit new highs before the year-end.
..Or Treasurys?
“If you’re forced to be in the Treasury space, we like things that are in the front end,” Zervos told CNBC. “In our world, risk assets are destined to go higher over the next 3 to 12 months so we’re looking at the asset-backed space, the mortgage space, the corporate space and the fixed income world."
"We tend to like the equity risk space as well,” he added.
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Scorecard—What They Said on CNBC:
- Smith's Previous Appearance (Jul. 20, 2010)
- Wilsey's Previous Appearance (Aug. 11, 2010)
- Zervos' Previous Appearance (Aug. 11, 2010)
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Market Views—Across the Board:
Emerging Markets Still Hold Opportunities: Mobius
There's Still a 'Lot of Opportunity' in Stocks: JPMorgan Strategist
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CNBC Data Pages:
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CNBC Slideshows:
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CNBC's Companies in the News:
Intel
McAfee
Intel to Acquire McAfee for $7.68 Billion
Goldman Sachs
Goldman Sues French Bank over Credit Default Swaps
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Disclosures:
No immediate information was available for Smith, Wilsey or Zervos.
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