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Well the IMF warning that the United States must avoid going over the fiscal clip in 2013.
Or risk stalling growth not only here in the US the worldwide.
Christopher is that seek -- was chairman and chief investment officer.
Joins us now.
-- -- I was very clear there are two things that have to happen Europe pass a stabilizing diocese has to avoid tax -- get and I think as you call it.
Is that gonna happen.
You know I think there will avoid tax it -- and I don't necessarily think that the European slowdown is going to be avoided.
Tax again is going to be avoided because of the fact the politicians do not want to be on their watch responsible for the fiscal cliff.
Truly taken this country into recession but so -- -- use a football analogy we think they're gonna plug and play defense and extended for another year.
All right well very well -- and actually understood that but let me ask your company has the election -- -- the other thing as the election really a lot of the traders that we.
That we have on the shows that -- Beverly afraid to make any moves right now until they got a firm answer on election is that you're thinking you know as well.
I would agree I mean I've I don't think you can be totally on the sideline until the election occurs but I think that you have to be position for what you think is the most likely scenario.
Regardless of which you know which candidate wins the presidency we're going to have a major ugly nasty debate from November through the end of the year.
About the fiscal cliff so the election is obviously very important but more important is going to be what they do in November December regarding necklace.
OK so if I'm about investing right now I'm mild looking for stocks cheap on the side now -- waiting until the end of the year to make some some clear decisions -- what are you telling people.
I think you've got to be very prudent right now -- other times in this world when you wanna be a risk taker and you wanna be really pressing the -- This is not that time.
You need to be prudent need to be wise for us were looking for defensive type names that good dividends good yields to give us the ability to get paid while we wait.
We want to participate in the upside -- the upside comes and it could come if everything falls into place but more importantly is -- the downside occurs.
We don't wanna be overly exposed to that we wanna be more defensive so it's time to play a little bit a defense here and be cautious and get paid what we wait.
The thing I think this is where a lot of our viewers are struggling at the -- what the portfolios because you know the -- take some risk.
They're trying to get back what they lost five years ago today the -- anniversary of the S&P 51565.
By the way.
That you know you still have within that group 44 of those stocks -- overturned a 100% on a percentage basis a 100%.
Return to don't think that now we should be taking a little -- -- even -- that picking and choosing stocks that we want to own.
Well I think he anytime you buy stocks obviously you have risked so am -- saying put -- everything into a mattress absolutely not.
You have to be exposed and as an example if the market goes up 25 and I make 15 good morning I'm gonna be real happy with that.
But -- the -- goes down 25 I'd much rather be down ten.
And that is where we need to position our portfolios.
In names that are going to give us some defensive characteristics but then they'll still make some money on the upside if everything turns up just happy.
Not by -- rally Christopher is not thank you very much CAC investments thanks Chris tracked.
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