“HOW TO PLAY IT: Market turmoil shakes up investor options,” by Joseph A. Giannone and Jessica Toonkel, Reuters.
Todd Morgan, senior managing partner of Bel Air Investment Advisors in Los Angeles, says many of his clients had moved assets to cash and bonds ahead of the recent downturn. That allowed them to redeployed into high-dividend stocks at discounted prices last week.
Investors could do well, he said, with blue chips like Procter & Gamble (PG.N) and Johnson & Johnson (JNJ.N) shares, each of which yields more than Treasury bonds.
“What would you rather own for the next 10 years?,” asks Morgan, whose firm oversees $6.5 billion.
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