Hot picks: Buy these pharma stocks as the best bet against a slowing economy, portfolio manager
Rob Moffat, portfolio manager at Middlefield Group, told BNN Bloomberg on Tuesday that in the case of a market selloff, the "baby gets thrown out with the bathwater." That is exactly what is happening to high quality pharmaceutical companies that are under pressure because of the current negative investor sentiment, he argued.
“I do think over the medium term, pharmaceuticals offer a pretty good place to invest,” Moffat said.
He recommended Eli Lilly and Co. (LLY), Merck & Co Inc. (MRK) and AstraZeneca Plc. (AZN) as his top three stock picks within the health-care sector.
He, his family, his firm and his investment banking clients do not own any shares within the companies mentioned above.
For the full interview, click on the video at the top of this article.