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00:00Is this the time for stock selection or is it a time to buy an index. No Tom. You're asking a priest whether he believes in God but. But you know I think that here we are stock picking did awfully well last year. Yes. And I continue to think that that last year was an aberration. And this year will be an aberration. We're expecting the highest GDP growth since the 1950s really just as a snapback. So in that exceptional environment I think I said stop thinking that it's by far the better choice. Well is active stock picking including Apple Mr. Cook on a raisin 200 some million in restricted stock today. Do you want to benefit from the Apple juggernaut. I tell you Tom I'm cooling on Apple in terms of pounding my table on it. But wonderful company's terrific man. And I won't begrudge Tim Cook any of the millions of dollars that he's making. But what I would say is at the end of the day it's selling iPhone and iPhones is an economically sensitive thing. It's also has competition. It's hardware. So I would prefer other of the banging group that have much more asset light setup than an apple is 30 times.

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Stock Picking Will Beat Passive Again in 2021, Strategist Grisanti Says

Christopher Grisanti, chief equity strategist at MAI Capital Management, says "active stock-picking is by far the better choice" for investors as the U.S. economy recovers from the pandemic shock. Grisanti speaks on "Bloomberg Surveillance." (Source: Bloomberg)

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