It's really been surprising, ... that in the early part of the year, the stock market was able to shrug off some of the interest rate moves on the bond market. Clearly that's no longer the case. ... We've had some great winners for years and the tough thing is to tell investors it's time to step away from some of those. Those rich valuations are now at risk.
More Quotes from Liz Miller:
It's the time to look at some of the blue chips that have languished a little bit. They have not been hit as bad as technology. But valuations look pretty attractive,Liz Miller
One thing we are seeing is decent review in spending. The defense sector is definitely benefiting from that. Their business is improving, their stocks are doing well. My favorite is General Dynamics.
Liz Miller
It's about to be spun off by its parent Harcourt General, becoming another pure luxury play, ... And at that point, I think it will be a very interesting stock.
Liz Miller
When there is some fear about accounting and growth and the economy, food stocks are a decent place to be, ... This company has been through a bit of a restructuring the last couple of years. Management is doing a great job. The company is improving and people are buying chocolate. So, what a great week to buy it.
Liz Miller
Similarly, I think beverages have been a great place to be. Pepsi has been doing everything right lately and I think that's a good place to put some new money if people are unsure during these earnings seasons where to go, ... Stable business, great snack food and now the latest media is telling us they're going to really do great in water -- bottled water.
Liz Miller
Gillette has been off everyone's radar screen for a couple years. New management last year -- we saw (it) in the first-quarter numbers, finally seeing some benefit of that, ... Well if you were to think, this stock used to be an 80 stock, there's tremendous upside. Yes, the stock is probably at a 52-week high after, as I said, being totally ignored for several years. So I think what you're really seeing is the start of an uptrend.
Liz Miller
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