Tuesday's global market hiccup was a "great opportunity" for smart investors, according to Edward Shadek. The deputy head of investments at Putnam, and Dan Genter, CEO of RNC Genter Capital Management, advised CNBC's Sue Herera how to ride the volatility roller-coaster.
Speaking on "Power Lunch," Shadek declared that there was a lot of "fast money" in the market -- people with short attention spans who committed "irrational" acts on Tuesday. But he says those who panicked inadvertantly provided opportunities for calmer long-term investors. Shadek pointed to the financial sector as the most fertile: "If you believe the economy is slowing, and ultimately, that the Fed will ease rates," he says, then financial firms are the best plays.
Genter agreed that there are "good opportunities out there" -- but insisted that "the Fed is not going to ride in as a hero." He thinks the market will be stuck in a lukewarm trading range for the near term, with "6% to 8%, at the upper end 10%." But he suggests the savvy investor "focus on quality," and "take some money out of cash" to put into large-cap stocks in the tech sector, medical supply and device makers, and even energy providers -- "particularly deep-warer drilling."