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Knight Capital Managing Director Peter Kenny and Kanaly Trust CEO Drew Kanaly on how investors should manage their investments and risks in this marke...
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-- could Haley says the market pullback is a major buying opportunity if you know where to look.
Peter Kenny of Knight capital begs to differ Robert -- ready to break it with the FaceBook pricing as soon as it's released.
And Sandra Smith is going to break in with the earnings the second the come out.
All right -- our little street fight about whether or not this is an opportunity -- withdrew and Peter -- -- Peter actually let me go to you first.
Because even though you say that the market is oversold right now you're saying it's still not time to I think it was if the market is oversold maybe now's -- time to go and why -- well.
They know they know you you would think so oversold conditions extreme oversold conditions would lead to opportunities to buy -- really really catch a rebound.
On the way up and we are oversold but we haven't seen the conviction relations -- that would really warrant.
Putting extra -- cash to market in the -- to work in the market.
The bottom line is -- -- trend -- lower we will get a Popper to we will get one of those reflects bounces.
But the trend seems to be lower and it seems to be exact exacerbated -- news out of the Euro zone Greece specific.
French financials downgrades for the EU and softening economic data here.
Home do you just threw -- -- whole plate full of negative stuff that S can you just tell us how you would allocate.
And I know every person's different and everybody's risk tolerance is different but how are you allocating basic portfolios -- -- Well what what you wanna do major risk right so you wanna stay altered diversified and can -- world -- in bonds.
-- third in stocks and long position and were third and alternatives.
Alternatives will be gold and mail piece investments like that so.
You still want to stay in that that position.
But going forward as we get this revaluation in the market and it's coming.
You you wanna be thinking about reallocate -- back towards long positions in stocks but there is a -- got to it okay.
You really want to watch your profit margins going forward there's a lot of pressure on profit margins if we're very very slow growth environment especially domestically.
It's going to be tough.
And so that that is the one caveat to it if we see some more margin.
And productivity losses.
Then Lotta times that presage as the recession so it could be a problem longer term.
But this looks like a better chance to get into the market as we go through what we believe is this pricing correction.
Drew you're the first wanna mention the what you were looking for were things seem to turn around go into a buying opportunity.
I was mentioning to -- before Goldman Sachs back in the 90s97.
Dollars a share things are starting to look trying to cheat part -- where would you go first if you saw the buying opportunities.
Well wolf first of.
All I think that things are starting to look cheap.
Particularly if you look at PE ratios I mean and if you look back six weeks ago where we are now relative to six weeks ago things are certainly looking very very -- That hasn't been said I still like financials I love large cap technology.
Those -- my two areas that I love any kind of a rebound manufacturing anything that.
