Walter Todd, chief investment officer at Greenwood Capital Associates LLC in Greenwood, South Carolina, says churn in the market out of momentum stocks and into value is healthy, but those areas providing leadership, utilities for example, will not take the market to new highs. Todd recommends focusing on economically-sensitive versus defensive stocks. Todd likes industrials, financials, and energy, because of what he sees as an impending significant bounce-back in economic activity through the rest of the year. Todd speaks with Bloomberg’s Kathleen Hays and Vonnie Quinn on Bloomberg Radio’s "The Hays Advantage”.
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