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-- Stocks are still cheap and good place to be despite his prediction of slower earnings growth.
-- Consumers are still not in good shape and it is the consumer which drives the economy.
-- Predicts market can go up 10% to 12% this year.
-- Debt ceiling debate will bring risk and can derail the rally.
-- Large cap stocks are much cheaper versus small and mid caps.
-- There is a big bubble in bonds.
-- His top picks:
-- In technology space - Cisco (CSCO), Apple (AAPL), Qualcomm (QCOM).
-- In health care - Medical Properties Trust (MPT), it has 6% yield, acute care hospitals, long-term acute care hospitals, solid dividend coverage and solid balance sheet.
-- McKeeson (MCK), EPS of $8.10, high 12 multiple, earnings growing at 10% per year, $1 billion of free cash flow, stock repurchases, benefiting from move from branded to generics.
Credit and source: www.cnbc.com, CNBC
Here is the video, disregard the first 5 minutes of video, Scott comes in at around 5:08 in the video
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