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All right -- wanted to straight to Jeff -- chief investment strategist at with Raymond James you heard what the president just had to say regards to.
Questions about the sequester and automatic cuts give -- your reaction.
I think it's a replay what -- saw going into the fiscal clips that people termed Armageddon.
That politicians inside the DC beltway have a magic eraser and -- -- understanding of Reading that the documents in the sequester.
That the cuts don't actually take place to march 27.
So my hunch is the boys and girls are gonna come together even if it takes until March 27 and then they have a magic -- they can race the data back to.
Back to march 1 so I don't think the sequester is gonna have that much impact on the economy and I don't think the cuts are gonna take place.
But in the meantime this magic eraser causes a lot of people to -- -- -- week that we we've already seen a consumer get a little bit rattled by.
All of these political headline so how do you position yourself.
I had and that march 27 date that you think is movable.
Well I've I -- I'll say the same thing I said the ongoing into the fiscal cliff I think it's gonna be -- not event.
I was surprised that the administration gave up as much as they did if you remember the rhetoric they were going to be in transient on the 252000.
They moved to 40450000.
And the Republicans -- very right of senator those Republicans they also gave up.
A lot in my 42 years in this business and a long time on in Washington DC on the hill when something absolutely had to happen it's typically happen.
So I you know I'm still fairly fully invested in equities.
I think the past two day pullback has given investors an opportunity to buy some stocks were put on sale.
And I continue to think the path of least resistance is higher.
Irate so separating the noise and what we're seeing out of Washington what positive signs or what -- in general are you looking for to driver investment decisions.
Well you've heard you heard the president talk about the housing recovery to help -- recovery is for real.
I'm out here in -- in Palm Desert right now but.
Where I live in Saint Petersburg Clearwater Tampa area the -- recoveries for real there's actually a shortage of high rise condominiums there's bidding wars going on there.
The auto sector remain strong.
And in even with -- run rate going from seven million annualized units in 08 to fifteen and a half million annualized.
Expected run rate automobiles this year the average life of the fleet in this country still twelve -- so I think you're gonna continue to get the pull forward.
If you will from other replacement cycle and in now autos and I think with the housing numbers come on on.
I have a tough time seeing what's gonna put the economy back into a recession.
-- like that -- activity on a day we're seeing almost triple digit gains -- not -- -- James chief investment strategist -- for Roland with the punches and have a great weekend.
You know you talked about the.
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