Credit continues to crunch. Oil has collapsed. But Jeff Mortimer recommends a bank and an oil giant. What's going on here? Hint: The chief investment officer of Charles Schwab Investment Management is thinking long-term.
"We continue to like JP Morgan (Chase) and Exxon Mobil," he told CNBC. "One financial, one integrated oil; you may look back five or 10 years from now and say you should have got them."
On the bond side, Mortimer favors corporates over Treasurys.
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"The studies we have done show that as spreads come in, stocks should also do well, so I think you're getting a lower risk option in some of the corporate debt," he said.