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Strategist: Wise Up — Buy Stocks!

"What people perceive is what they believe," Neil Hennessy of Hennessy Funds told CNBC. "The perception out there is that companies are losing money, when, in reality, they're not losing money. Their earnings might be down 10 percent this year, but they're not losing money."

He urged investors to step back, realize that they can't make money buying Treasurys, and get their money flowing back into stocks.

"Think about the Dow Jones," he said. "If you bought all 30 companies in equal dollar amounts, you're going to get a 4 percent yield."

Recommendations:

Topping his "buy" list is Kraft Foods — though it's not one of the 30 Dow industrials.

He also likes AT&T and Merck, which are in the Dow.

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Disclosures:

Disclosure information for Neil Hennessy was not immediately available.

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