Polley said investors should consider taking profits off the table and look for options in the next leg up. He suggested sectors like basic materials, engineering, construction, software and health care.
“We do think the economy is improving and we do believe we’ll get recovery as we get into the end of the year,” he said. “So you should be participants of the long-term secular expansion of the global economy.”
In the meantime, Weiner said investors should diversify their portfolios.
“It’s time to set your equity portfolio at about 70 percent of the S&P from the volatility standpoint,” said Weiner. “Get diversified—get all over the world…There is some kind of recovery going on but I’d take about 30 percent off if you’re fully invested.”
The Mosaic Co
Terra Nitrogen LP
No immediate information was available for Polley or Weiner.