Hot Picks: Industrial stocks
Amid a potential economic downturn, one portfolio manager thinks it’s a good time for investors to start looking at the industrials space.
In an interview with BNN Bloomberg’s Jon Erlichman, Alexander MacDonald, a portfolio manager at GlobeInvest Capital Management, said Monday that he sees opportunities in industrial stocks for two major reasons.
“First and foremost, if the economy does continue to grow and expand as we think it will do over the long-term, the industrial companies should thrive and grow alongside that,” MacDonald said.
If there is a “near-term pullback” in the economy, MacDonald said he likes the defensive characteristics of a few stocks. These include Raytheon Technologies Corp. (RTX-NYSE), Otis Worldwide Corp (OTIS-NYSE) and WSP Global (WSP-TSE).
He and his fund own all of the stocks mentioned above.
Check out the full video at the top of the article to learn more.