Patrick Dunkerley Believes Macy's, CBS Will Gain From Economic Recovery

KANSAS CITY, Mo. (TheStreet) -- Shares of Macy's M and CBS CBS will likely rise as the economy improves, says Patrick Dunkerley, manager of the Scout Mid Cap Fund (UMBMX). The $160 million fund, which has earned five stars from MorningstarMORN, has returned 35% during the past year, outperforming 74% of competing funds. The fund has gained 0.1% annually during the past three years, beating 99% of rivals. Welcome to TheStreet's Fund Manager Five Spot, where America's top mutual fund managers give their best stock picks and views on the market in a five-question format. Are you bullish or bearish about U.S. stocks? Dunkerley: We are bullish. We think the big picture is still bullish because of the easy Fed and the recovering economy. However, there are still some near-term headwinds with the euro and all this concern over Europe. So investors really have to get used to the fact that the euro is a lame duck currency. It's probably going lower. As soon as investors reset their expectations, we think stocks are going to go higher. To read why Dunkerley likes M and CBS, click here.