Pat Dorsey, well-known author of value investing book, "The Little Book that Builds Wealth" and current investment officer at Sanibel Capital Investment Advisers, was on Bloomberg to discuss his views on the fiscal cliff, what will happen if US goes down the fiscal cliff and where he thinks the opportunity to invest in this uncertain environment and markets.
-The fiscal cliff is not a cliff, it is a steep hill.
-He thinks the world is not coming to an end, the fiscal cliff impact will not be right away, and that it will take years to impact the economy.
-It will be a better deal if decision isreached in February, which will put us on a sustained fiscal path rather than a deal which will be half-baked just to beat the deadline.
-He suggested buying beaten-down stocks feared to be impacted by the fiscal cliff.
Credit and Source: Bloomberg
Here is the video:
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