10 Stock Picks from 2 Bullish Strategists (Pt. 1)
Although markets have run quite far and could use a correction, Bill Smead, CEO and CIO of Smead Capital Management and David Joy, chief market strategist at RiverSource Investments said they are bullish about the markets. They shared their buying strategies with investors.
“Under the ‘buy the rumor, sell the news,’ we think you can buy the most future success from a couple of sectors being neglected because of the good news,” Smead told CNBC.
Smead said he likes the drugmakers.
“We think emerging markets are going to buy a lot of pharmaceuticals as they get adequate health over the next 5 to 10 years,” he said.
In the meantime, Joy said he likes the industrial and material sectors on the expectation that the economy will improve.
“One of the big growth stories is going to be construction and infrastructure building [in the U.S.] and abroad,” he said.
Smead Likes:
Merck
Bristol-Myers
Wal-Mart
McDonald’s
Bank of NY Mellon
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Disclosure:
Smead’s firm owns shares of MRK, BMY, WMT, MCD, BK.
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CNBC Slideshows:
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