Making Money In The Markets Today

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-- I will uncertainty in the markets is triggering hesitation from investors -- our next guest says that there's still a lot of money to be made joining me now is my craft and -- Philadelphia.

-- thanks for joining us today.

Great to be here are a so where is this money that needs to be made where can I find out how can I take.

Get a piece of that.

Well I think you gotta look at backbone industries those are industries that are gonna serve the economy regardless of what happens in the government -- caught revolves what happens in the quarter market.

-- to look at technology companies because technology companies have the best balance sheets.

In the market and actually the strongest balance sheets I've ever seen in all the years I've been in the business and actually going back before that.

And you need to look at domestic energy companies because we have an energy need in this country.

And we really can't be dependent upon the vicissitudes of the Middle East.

The meet those needs so we have a great domestic energy in this country and if you invest in -- now you're gonna be well rewarded in the future.

But might it's hard to take our eyes -- -- the headline stories today in particular we've got a big focus on what's happening with the debt ceiling talks here.

In the United States are we kind of being misguided here are those are real issues or are they knots.

Those are the real issues but the interesting thing that's happened here is you've got over 60% of the companies that have reported.

Have beaten and have raised and have guided you know in a moderate way.

That showing us that corporate America is gonna survive regardless of what these jokers in Washington do or don't do.

-- corporate America has shown as they can cut cost they can defend margins that continue to move their businesses forward.

Without any interference from the government so I think what the market is telling us the last couple of days -- those aside because they think there was some short covering here but the market is telling us is.

Maybe were a little bit closer to the end to these problems that we were you know in six months ago and we need to be invested now to participate.

When the end in the turn finally comes.

One thing that that Charlie Gasparino -- -- our senior correspondents brought up in the last hour that I think really resonated with me is that there's a very big difference between.

A US debt downgrade and a USD.

Fault which evident sue is more likely.

And which that -- well I'm I'm an answer your question where I know that I.

But what happens to be getting -- a downgrade but not a.

-- some of the minor rating agencies have basically already downgraded the federal government and Moody's and S&P will downgrade them regardless of whether we get a debt ceiling increase -- not.

They have to they have to save face they put them on credit watch.

And they the condition of our balance sheet isn't gonna change that much in fact I contend that you know what if they can't come to an agreement.

Why not why why raise the debt ceiling just just to serve the needs of the moment I think longer term we have to address the structural imbalances in this country.

And the structural imbalances are we spend too much money not a revenue problem it's a spending problem the we have to address that now.

And if we don't address -- now the problems are going to be a lot more difficult.

Moving forward self.

Let's just get an overweight -- Might we have thirty seconds I know you have some specific stock picks that you're recommending out there and get to them very quickly.

-- I like Hexcel in the industrial space some like Nuance Communications in the technology space.

And like Whiting Petroleum in the energy space all three of those will serve you well regardless of what happens in the economy.

And couldn't get shorter and sweeter than that Michael Kraft and thank you very much have.

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Making Money In The Markets Today

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