Mid-Year Picks and Pans From Barron’s Roundtable

June 15, 2008

Barron’s magazine returns to its 11 Roundtable participants, who weigh-in with their mid-year thoughts, and updated stock picks (see parts II and III).

Bill Gross

Tepid growth should keep the Fed from hiking rates despite relatively high inflation. Foreign reserves, bolstered by another $500B in oil money, will continue propping up equity prices — because they’re not buying bonds.
He likes: Fairpoint Communications (FRP), which acquired substantial properties from Verizon (VZ). JPMorgan’s (JPM) 7.9% preferred stock ("The Fed loves Jamie Dimon, why shouldn’t you?"). And Countrywide (CFC) at a 10% to future parent Bank of America (BAC).

Oscar Schafer

Debt deleveraging, falling housing prices and high gas costs will keep consumers at bay — a benefit to discounters like Wal-Mart (WMT).
He likes: Tyco International (TYC), which is undervalued, underlevered, and has great international potential. CommScope (CTV) has a superb, aggressive management team.

Archie MacAllaster

Three bank stocks: conservative, growth, and speculative. Conservative: JPMorgan (JPM) should climb by 50% over the next 12-18 months. Growth: Wells Fargo (WFC) shares are down too far considering it’s well run and has a diverse business. Speculative: Bank of America (BAC) buying Countrywide (CFC) will be a positive 18-24 months out; it will turn a big profit on its $15B stake in China Construction Bank.

Scott Black

Despite real GDP growth, for Main Street this is a recession.
He likes Bolt Technology (BOLT), a relative unknown in oil drilling, it fetches a cheap 10x earnings vs. Schlumberger’s (SLB) 20x. And Belden (BDC), a cable manufacturer which earns 59% of its revenue outside the U.S.

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Mid-Year Picks and Pans From Barron’s Roundtable

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Pingback by wells fargo 50

2008-07-23 19:25:35

[…] Bill Gross Tepid growth should keep the Fed from hiking rates despite relatively high inflation. Fohttp://www.investorsparadise.com/mid-year-picks-and-pans-from-barrons-roundtable/? Public records for June 27, 2008 - Daytona Beach News-JournalHeather De Los Reyes, real property […]