I think the economy is stronger than many people have hoped. So that's good news for profits. And the profits were never as bad as I think people may have feared.
More Quotes from Kevin Bannon:
Again (with the UPS pick), a lot of the same kind of issues. A company with very, very good quality earnings. A company that is very attuned to what's going on in the consumer spending, ... And a company that has some pro-cyclical elements. We are talking about a pickup in the economy. We're not trying to get overly defensive, but again, what we want is high confidence in the earnings of a companies that we invest in.Kevin Bannon
Obviously, this company is a big user of energy. Oil shouldn't have been at 11 a year ago. It shouldn't be at 34 now. It will eventually settle at a price that will let UPS do very well.
Kevin Bannon
The common them there is both of them have a lot of exposure to natural gas, which will be a big play in energy. They've done pretty well. But I think if you're a patient investor and are looking out a couple of months, you'll do well in them.
Kevin Bannon
I think financials will be a very, very strong sector, ... You have a tremendous increase in demand out there as the savings rate has to pick up as the baby boomers start confronting retirement.
Kevin Bannon
Everyone knows the Fed will raise rates 50 basis points when it's at one time or two time. I think what you want is a Fed that's on the job and this Fed is clearly on the job and I would say they're neither ahead nor behind right now.
Kevin Bannon
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