Pat Dorsey, ex-director of research at Morningstar, author of well-known value investing book "Little Book That Builds Wealth" and current vice chairman, director of research and strategy at the Sanibel Captiva Trust Company, was on CNBC to provide his views on the eurozone crisis.
He said he's not seeing the risk of contagion in Europe yet and he recommends buying cheap European stocks. He recommended investors consider well-established European companies like Nestle (NSRGF.PK, Financial), Total (TOT, Financial), Siemens (SI, Financial), global businesses with strong balance sheets and diversified risk, not just focused and concentrated in the EU.
He says China is slowing but 8% is still good growth. In the U.S. he recommended investors choose investing in companies like IBM (IBM, Financial), Exxon (XOM, Financial), Abbott Labs (ABT, Financial), offering not only attractive 3% to 4% dividend yields but are also attractively priced — much better than investing in Treasuries.
Here is the video:
He said he's not seeing the risk of contagion in Europe yet and he recommends buying cheap European stocks. He recommended investors consider well-established European companies like Nestle (NSRGF.PK, Financial), Total (TOT, Financial), Siemens (SI, Financial), global businesses with strong balance sheets and diversified risk, not just focused and concentrated in the EU.
He says China is slowing but 8% is still good growth. In the U.S. he recommended investors choose investing in companies like IBM (IBM, Financial), Exxon (XOM, Financial), Abbott Labs (ABT, Financial), offering not only attractive 3% to 4% dividend yields but are also attractively priced — much better than investing in Treasuries.
Here is the video:
