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Jeff Saut, Raymond James chief investment strategist and managing director of Equity Research, says the economy is moving into a self-sustaining recov...
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-- thank you so sure.
Well our next guest says the economy is moving into a self sustaining recovery -- things this market will go even higher.
Joining us now is -- sought chief investment strategist with Raymond James and I'd love your optimism Jeff -- -- based on.
The two sectors that typically pull the economy out of a soft spot our autos and housing.
Autos have done their job you've gone few years ago from a nine million annualized run rate to close to a fifteen million.
Annualized run rate and -- the fleet is still about twelve years.
-- in this in this country so you're gonna see further pull from that but the housing market.
Is is starting to come on come on stronger than most people think and we think that the -- is being handed from autos thousand.
And that housing is gonna continue to look pretty perky and -- the economy up.
Well just -- -- -- -- -- the last -- young -- for the recovery because usually.
You know -- -- -- jobs come back before housing metal looks like we're not gonna get jobs coming back we're actually gonna get housing coming back.
He'll look at the home -- stocks are taken out today.
-- out what they've taken off all year in fact -- probably gotten ahead of themselves are fundamental annals of actually downgraded.
After making a great call on being -- the home builders they actually downgraded -- here about a month month and a half ago.
Second derivative play on housing however is a company my analysts have a strong buy and called -- timberlands are why -- It's two point eight million acres of timber they have a high performance -- division is doing really well they've increased their dividend 33%.
Over the past three or four years it looks like a really good situation us and again -- second derivative play on the improvement in home building.
Let you know Jeff it by all accounts there are many people say this is going to be a volatile ride -- -- the -- -- the year -- you agree with that how can investors play it.
Again I think you have to stay with special situations.
Again RY and I think is indeed a special situation.
I think the surprise is going to be no matter who.
Gets elected that you're going to see the policy makers adopt smarter policies.
And they're gonna attacked the deficits and I think you gonna get more productivity -- at a government I think that's going to be surprised a lot of people.
You know -- one of the things that we're gonna be looking out over the next you know few weeks is -- The employment data and also the economic data is going to be impacted by the storm are facing some companies come out today and point two one of the problems quote unquote being sandy -- how we get -- really know what what companies are really saying with regards to -- or frankly.
Not saying you trust the numbers the most and which are gonna get -- -- -- Garber and.
Well -- the analysts I talked to are gonna give companies have passed if you will because of sandy.
So I think that that I wouldn't pay a whole lot of attention to the numbers.
Until you get -- -- the first quarter of next year.
Very good are right Jeff -- with a Raymond James Jeff thank you so much for joining us appreciate it.
Plus.
Some are getting power back actually in new York New Jersey right now the commuter town Hoboken.
New Jersey remains largely under water leaving us residents stuck in their homes with weeks to wait weeks of.
