Stock picker: buy now for the recovery
Stock picker: buy now for the recovery"
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It's time for the business world to get back to business, according to Neil Hennessy of Hennessy Funds. Since that now seems to be happening, he has a couple of recommendations for
stock-market investors. "I think it's great that, the last couple of days, we're actually talking about earnings," he told CNBC. "Everyone's getting ready for
the second half of 2009, where I think you're going to see earnings start to grow again." He likens the market's recent misfortunes to a car accident, where investors first
try to figure out what's happened, then try to fix the blame, and finally go about recuperating. "It's going to take six, 12, 18 months to recover," he said.
RECOMMENDATIONS: Where does Hennessy think investors should be looking, to get ready for that eventual recovery? "Look at Greif," he said. "There's a company that makes
steel containers, but most people know it by water bottles that are used in offices." He also likes Ralcorp Holdings and Brady. DISCLOSURES: Disclosure information for Neil Hennessy was
not immediately available. Disclaimer
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