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Stanley making a bullish call on US stocks and totally conversely Citigroup turns bearish on US stocks which side should you and your money be -- well.
Maybe we bring in a guy who knows exactly what to do and not put sort of all kinds of ideas into your head Raymond James chief investment strategist from saint Petersburg Florida -- sought.
Has some simple ideas OK first stop Citigroup says the U in the US should stand for under weight do you agree with that Jeff.
I do not agree with that I think the great rotation started in November of last year every international portfolio manager I talk to.
-- up in Canada.
Wants to increase stay here ownership of WS -- so I think it's I think US equities -- an overweight here.
-- but what do you look at to give you the indication we know that the Fed may taper.
Before the end of the year do you look at treasury yields do you look at the US dollar to simply look at something like the S and take.
I look at the S&P I look at the earnings projections bottom up operating earnings for the S&P were trading at about fifteen point two times.
This year's number even if you don't get a multiple.
Expansion and you continue to trade at fifteen point two times next year's bottom up operating earnings estimate it gives you -- target on the S&P 51850.
Okay you've been sitting on cash since about June.
That's correct okay what are you doing with that money now.
I haven't started to put it back to work as you know -- we targeted mid July through mid August.
As the window for the first meaningful decline of the year I think it started I think we're about halfway through it.
Those short term New York Stock Exchange McLellan -- Slater got very oversold last week.
You had a what a technical analysts would term a nine.
Which means 90% of the total volume traded came in on the downside following both those occurrences this typical the -- to the seven session throw -- rally.
That's what we're getting the cause approximate -- was Syria I still think we're only halfway through the correction however.
-- he was absolutely correct in his call to go to cash back in July so we allow him.
To invoke the name of the McClellan also later I get -- collect what I hear that OK so let's get to the names that you really like right now.
-- want to pick a few names.
And and they are all US centric which I find really interesting just -- city says no but.
Of course Morgan Stanley says yes on them let's start with your first name and and you know if you could talk about these is health care stocks I don't know would you qualify them -- -- -- medical stocks.
I would call I would -- -- diabetes stocks I read a report out of the de Mayo Clinic up in Jacksonville Florida maybe a year ago.
This that 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 an additional 50% a year.
Because all the ancillary diseases and I look at my peers that are now in their sixties.
They're still leading McDonald's hamburgers and French Fries and they're laying around or not exercise and quite frankly they're getting type one diabetes.
Right is so it's very hot let me just say what's up on the street divvied out which is at the moment I believe up about 8% over the past year PE a fourteen.
This also is a stock that involves itself in in kidney dialysis it's a -- play Warren has started to like this or at least one of his investors.
Investment gurus that he hires Ted Todd they like them and let's talk about Novo Nordisk why that one.
It's one of the leading diabetes plays in the world has been a great company they've increased their dividend every year -- off.
For a long long time it's actually one of those stalwarts and a friend of -- portfolio troll try shaver.
Runs -- Goldman Sachs rising dividend fund where he only invests in companies -- increase their dividend by 10% a year every year for ten consecutive years.
Wireless sort of tower stocks the tower stocks I remember talking about these with you nine years ago.
Now you feel that -- a real opportunity at the moment tell us why.
Well you consider they're they've been a great investment for the past dozen years -- you're your computer is going into your mobile device you see it more and more.
Every year and the way to play that -- through the -- -- -- can think on this real estate in the sky you need more bandwidth they hang another device someone in the towers.
And they make them look like fake trees which of which we love I mean how can you not love a very fake tree that has.
Wireless thing sticking out of your number one money -- everybody ready for this it's up a 192%.
Year over year.
Jeff Rite -- it still has more room to run after such a great for the -- Yeah I did see you can think of and is got call option that doesn't expire -- my positive.
Feelings on it came from my fundamental -- who surfaced at around one and a half one and five eighths.
New management team it's turn around story.
The dock in the boxes I mean the big beneficiary of Obama -- is going to be the nurse practitioners which are in these you know in the Walgreens and in the Rite -- to the world.
They're closing down marginally profitable stores they doubled their cap backs and their upgrading of the stores that they want to keep so.
In the LP have a longer term time horizon it's potentially -- double digit stock.
And I do flu shots I mean what more could you want it good to see you Jeff thank you so much for coming on with us.
It's a pleasure my friend jump shot Raymond -- chief investment strategist on the money on your money closing.
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