I would look at companies that will benefit from a cyclical earnings recovery and there I like companies like freight operator CSX Corp., International Paper, but also hedge a bet a little bit with companies that offer good price potential in less cyclical areas,
More Quotes from Robert Morris:
You cant ignore the fact that technology is the principle strategy of every company in the U.S. economy today. So I think the technology sector is going to continue to show good relative strength in sales and earnings, and I would buy the dips in technology,Robert Morris
I'm not sure that leverage coupled with technology is a natural marriage, ... but certainly technology acquisitions can make sense if the capitalization is appropriate.
Robert Morris
I think companies that are selling at the lower PEs, obviously, carrying some question marks in investors' minds, are the ones that you vote for here. So, Wachovia Bank, for example, looks interesting to us, ... But, generally, I think the lower priceearnings multiple financials are where you want to look right now. The quality merchandise has been bid up. And I think this spread right now says move from the quality financial down scale a little bit for the lower-priced ones.
Robert Morris
All of them are finding the materials to be more expensive, and that puts a squeeze on profits. We are talking about a market that is more price-sensitive today than a year ago, with the interest rates going up.
Robert Morris
I like the paper group here (especially Bowater). With the weaker dollar, I think paper is going to be a surprising performer here, ... I particularly like the newsprint sectors. I think pricing is a little more advanced in that part of the industry than it is in some of the others.
Robert Morris
Aetna has been creamed here by the decision of some health insurance groups to stop requiring doctors to get the green light with the group before recommending patient treatments and I think represents a great long-term buying opportunity.
Robert Morris
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