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Is our next guest recently upgraded financials to market weight even has his -- on one particular stock in the financial sector joining us now as Randy -- president chief investment officer for.
Huntington asset managers -- great to see -- Markets being driven up that it.
Not likely because said Citigroup is were discussing here with that GMAC so first -- you think -- the rally today.
You know we're having a little bit about strength and recovery of -- the Chinese market I think are -- been concerned about what's taken place in Europe.
You have to know what the -- they -- -- you -- waiting for the next shoe to drop but they're mining on their feet that are going to be drop in those -- so some good news out of China is certainly a very very positive and see their growth is gonna.
Help of our export capabilities and certainly the financials will benefit from that.
Randy you know you mentioned Europe obviously this is uncertain at best going forward at the same time we're seeing energy prices spiking here it seems like.
You know there are a lot of stumbling blocks ahead what's your outlook for GDP -- thank.
We're looking at about a two and a half percent rate of growth this year they'll be up slightly from last year not a very robust recovery we're still have the deal with a lot of debt -- -- to deal with a lot of regulations.
We've got a lot of legacy issues that we have to overcome and that's gonna keep the economy very sluggish.
That's going to keep us small businesses from borrowing.
But they're still a great deal of value out there we look in that perhaps up profit margins on the large cap can be an extraordinarily high.
And if that's the case.
That means that they're gonna have to have pretty good top line growth in order to be able to expand this this.
Continuation of their market recovery so we're looking a -- -- closer at the smaller cap names that might not need quite as much of a robust economic.
But we'll be able to benefit from that as well.
Are much better than the a larger gaps.
Randy let's get -- some of the -- provide you with us we mentioned at the top -- upgraded financials to market weight specifically some of the regional financials and I know your pick is Raymond James Financial.
Which is interesting considering -- Morgan keeping -- positioning norm going with this.
Put on possible warning for a downgrade -- Forecasting -- -- earnings growth here what do you see.
It's a little bit like boat people and -- big bad wolf right off.
Raymond James has got a pristine record they've got a great AUM group I think this will give them longer term.
A a very very great distribution capability a lot better than they even have now make and one of the larger regionals are the largest regional in the country and with that I think that's that's going to be a positive long term in the fact that.
But investors did take that poorly.
The acquisition because of the cost I think it's nothing but up a positive because it not to stock price down and -- -- value there now.
You real quick as a running out of time why do you like about us.
-- -- like farm income is up 28% this year 28% last year.
Off farm income is highest great -- a percentage GDP that it's been since 1974.
Farming comes gonna benefit both Cabela's and terra nitrogen to will see the farmers out there by and not capabilities weren't there there.
There are hunting equipment that as well as their farm equipment their farm needs all right -- David thanks for your time your -- appreciate it.
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