“Wealth Advisers Putting Clients in Big-Caps After Market Rout,” by Alexis Leondis and Ryan Mac, Bloomberg.
Clients have been calling and asking whether they should be selling and putting all of their money in the bond market, according to Todd Morgan, senior managing director at Los Angeles-based Bel Air Investment Advisors, which oversees about $6 billion.
“My answer to that is no,” they should be looking to add more world-class multinational equities, like Starbucks Corp. (SBUX) and Apple Inc. (AAPL), Morgan said.
If the S&P 500 reaches 1,125 or 1,150, Morgan will take cash and buy more of those stocks, as well as those that pay dividends such as Procter & Gamble Co. (PG), the world’s largest consumer-products company, he said.
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