Stocks continued to advance Wednesday following good news on the private sector jobs front and a better-than-expected manufacturing data from China. How should investors be positioned going forward?
Timothy Harder, CIO of Peak Capital and Ted Parrish, co-portfolio manager at Henssler Equity Fund — rated four stars by Morningstar — shared their insights.
“We’re looking for safety and the recovery story, and I think banks are emblematic of something that was beaten up during the recession,” Harder told CNBC.
“As we recover, banks are going to make money.”
In the meantime, Parrish said stocks remain the cheapest asset class.
“If you look at the valuations, they’re pretty cheap historically and versus the past 5 to 10 years,” he said.
Bank of America
Wal-Mart —“They just announced an acquisition in South Africa, which is an ambitious acquisition and shows the company is very focused on emerging markets,” said Parrish. “The company’s doing extremely well and it will continue going forward.”
Scorecard—What They Said:
- Harder's Previous Appearance on CNBC (Aug. 9. 2010)
- Parrish's Previous Appearance on CNBC (Oct. 28, 2010)
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CNBC Data Pages:
Parrish’s firm Henssler Equity Fund owns shares of UNH, ORCL and WMT.
No immediate information was available for Harder or his firm.