Pimco’s Kashkari Likes Wal-Mart, Spirit Amid Volatility

Pacific Investment Management Co.’s Neel Kashkari said he is buying companies that outperform when markets are volatile, such as Wal-Mart Stores Inc. and Spirit Airlines Inc.

“We are buying equities today but we’re being very selective,” Kashkari, who heads global equities at Newport Beach, California-based Pimco, said in an interview today on Bloomberg Television’s “In the Loop with Betty Liu.” His firm manages about $1.77 trillion. Pimco is “buying those names that we think have very strong fundamentals and more downside protection against some of the big macro shocks.”