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Markets seem to be unable to sustain their momentum. Michael Cuggino, president and portfolio manager with Permanent Portfolio Funds, still holds a positive opinion about the market.
He told CNBC, “Liquidity is there, corporate profits are there, interest rates are low and dividend yields are very favorable versus bonds. I think net-net, it’s a good environment for stocks and the economy in general.” He also ruled out the possibility of double-dip, but warned that the economy may grow at the slower rate.
He recommended FedEx
FDX and ProLogis
PLD. He also likes Hewlett-Packard
HPQ.
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Posted In: CNBCMediaAir Freight & LogisticsComputer HardwareFinancialsIndustrial REIT'sIndustrialsInformation TechnologyMichael CugginoPermanent Portfolio Funds
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