The dollar hit a new 8-month low this week. As we head into the fourth quarter, which companies stand to benefit the most if the greenback continues to slide? Bill Spiropoulos, CEO of CoreStates Capital Advisors, shared his best plays.
“I’m not in the death camp of the dollar,” Spiropoulos told CNBC.
“We had a powerful drawdown with all the yap about QE2 [quantitative easing] and double dips, and it’s created a great opportunity for anything that you eat, drink or smoke.” (Scroll down to see his full picks.)
Spiropoulos warned that assets considered the safest today will be “deadly” in the next three to four years.
“Like any asset class, understand that there’s going to be a 50 percent drawdown in a moment’s notice and that’s a fact of life,” he cautioned. “The fixed space is a very dangerous space [and] the 10 to 30 year maturities—you’re not getting paid there.”
Scorecard—What He Said:
- Spiropoulos' Previous Appearance on CNBC (Sept. 14, 2010)
More Takes on the Dollar:
- Enjoying the Weak Dollar? You Could Live to Regret It
- 'Fast Money' Traders: Buy Gold, Short The Dollar in October?
- Kudlow: Destroying King Dollar Is Not the Solution
CNBC Data Pages:
Spiropoulos’ firm owns shares of MO, MCD, PEP, TAP, IBM, MSFT and F.