Doug De Groote, managing director of United Wealth Management, and Roy Williams, CEO of Prestige Wealth Management, shared their market views and investor advice. (See their sector recommendations, below.)
“I think we’ve gotten a little ahead of ourselves and we have to get back to fundamentals,” De Groote told CNBC. "We're cautiously optimistic."
De Groote said he expects the cost of capital to increase and leverage to unwind, making consumers reluctant to spend.
In the meantime, Williams said he is bullish on the amount of cash sitting on the sidelines.
“We’re seeing huge projects being put on hold, but as we go on, we will see that loosen up in the next six months,” he said.
De Groote Likes:
- Health Care
- Basic Materials
No immediate information was available for De Groote or Williams.
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