A year ago -- as the Dow plunged a staggering 700 points in one day – stocks weren’t the only things left bloody and beaten.
The confidence to buy and then hold stocks went out the window, too.
The strategy for making money on Wall Street shifted sharply. No longer was this an investors market but one much better suited for traders. And though that’s not untrue, as it turns out, waiting out this collapse may have served you well, too.
Stocks are back at their highest levels in 11 months and the S&P 500 about to close out its best quarter in 10 years.
As the pendulum swings back -- and the strategy of buy-and-hold goes from ‘not’ to once again, ‘hot” – we asked the Fast Money traders for their best long term picks.
Pete Najarian suggests PG&E, California’s largest utility.
I like the growth potential going forward in solar and the 4% dividend they pay out, he says. And I love their clean energy initiatives they have underway. It just seems they’re pushing in the right direction for the long haul.
Want more Slow Money trades? We've got them!
Check our website on Thursday October 1st for the premiere of a complete list of all our traders’ favorite ‘slow money’ picks.