“We think the credit markets will outperform equities on an absolute basis for the next year or so and I think that’s where the value is,” he said.
However, Greenhaus said the recovery is going to take a longer time — and may be smaller — than most economists expect.
“While we see an economic stabilization, to what degree are we going to see a recovery? I think it will be muted,” he said.
Despite his outlook, Greenhaus recommended several sectors.
No immediate information was available for Greenhaus or Minerd.
Top Consumer Staples:
Johnson & Johnson