Also in this playlist...
This transcript is automatically generated
Because our next guest is bullish on the US economy says eggs do an even better and then today's -- report suggests.
-- Saatchi investments actually Raymond James joins us now how self I mean it's still -- they still think people are struggling out there I still think consumers -- back.
-- I don't just I don't disagree with that I'd I'd make the argument though that there's a lot of transactions that are taking place for cash.
That don't get recorded in the in the surface figures -- credit cards do.
I see that -- underground economy is has been built as many predicted.
Based on you know tax rates going up -- rules and regulations setting the table now.
No I'll say everything's on hey I just make these six suggestion that cash transactions are proliferating.
And that those are not record in the official figures.
That's a fair point let's -- -- about your outlook on the market.
You're looking for a meaningful pullback which interest me because that means you -- think this last little dip was the big pullback we were waiting for.
No I do not I have been very constructive on stocks ever since she got the back to back 90% upside -- days which is a pretty rare event.
Of December 31 of last year in January 2 of this year.
Back on June 19 and twentieth you had the reciprocal that you had to back to back 90% downside volume days.
I don't think that was that -- -- precursor to with a meaningful decline.
For the past few months I've suggested that the timing points come in mid July.
Both from a -- -- standpoint any technical standpoint.
In the news back drop backs that up because I think for Mac is going to be speaking in mid month I think you gonna start here jawboning about the sequester starting to buy.
And before congress adjourns for August.
So the -- and may go way -- maybe should be sun July at me because I know you're building up cash right now right are you waiting for this big pullback.
But Arnold is going to be a big pullback I think you could be somewhere between 1012%.
But I think it's for buying.
Because I do think the economy is going to strengthen as we get into 2014.
I think the world is profile only under invested in US equities.
And I think the valuations as best with this little pullback we've had I think -- -- pretty compelling.
It's interesting to you -- you make a great point that the rotation has been out of nine US equities into US equities not so much into bonds right.
So it up everywhere is pouring into US equities where you find buying opportunities.
-- -- -- you have to take them you know on a stock by stock or -- theme by theme basis you know one of the themes that I see I read a report out of the Mayo Clinic about 678 months ago now.
That said if you smoke in your later years your health care costs go up by an additional 20% a year but if you are obese.
They go up by 50% more a year and I look at my contemporaries moving into their sixties.
And they're -- -- McDonald's hamburgers and and not walking or exercising they're getting type 1 diabetes so -- -- a lot of diabetes stocks.
It's it's -- But it's a great black -- technology very undervalued as well -- -- -- -- -- Knology evident -- -- utilities have pulled back recently but up until the utility -- Utilities were more richly valued -- technology suggesting that utilities we're gonna grow faster than tech I don't think so.
And consumer staples as well I think a lot of people -- their money in consumer staples and just hope for the best.
They're pretty rich at this point would you suggest selling them taken some money off -- table waiting for this ten to 12% pullback.
Yeah I would I think yeah I think you take money out of utilities and consumer discretionary.
And you build a little cash and accounts and then when we do get this -- back and we're gonna get a pull -- whether it's in my -- points or not.
We're gonna get a pull back some -- then I think it's an opportunity to recommit capital.
Jeff we're gonna have to have you back we can.
Recap all this debt side rain indeed I'm nicer if you have had and -- -- he's.
Filter by section