Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

Dow could hit 20,000 within five years

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/12/2013 | 08:40pm CEST




ANCHOR (OFF-CAM) ENGLISH SAYING:

You're actually looking at a way to play the housing recovery by buying some of these ancillary names. Give me an example of where your thinking is on this and what stocks seem to be working for you.

NEIL HENNESSY, CHIEF INVESTMENT OFFICER, HENNESSY FUNDS (ON-CAM) ENGLISH SAYING:

Well, I think if you just look over the last four or five years there's been a lot of deferred maintenance that's been done to existing homes. And there was no reason to put money into your home when it was going down in value. But now that looks like it's stabilized, the real estate market, if not coming back a little bit. One way you can play it is homebuilders. That's great. But the other way to play this is ancillary business like a Mohawk or a Pier 1 or a Whirlpool, companies like that, because essentially what you're looking at is people have held off on the purchases to put in new carpet or carpentry or Amasco for new faucets or whatever, or Whirlpool for a new washer or dryer or paint, whatever it is, Beacon Roofing. There's a lot of companies out there that now are going to do very well even if housing does well because they'll still do well with them. But if housing doesn't do as well, they're still going to do well just from the deferred maintenance aspect.

ANCHOR (OFF-CAM) ENGLISH SAYING:

How do you feel about consumer spending overall then? You must feel pretty upbeat about it.

NEIL HENNESSY, CHIEF INVESTMENT OFFICER, HENNESSY FUNDS (ON-CAM) ENGLISH SAYING:

Well, I think the people that have held their jobs through these economic hardship and hard times, I think they're feeling a little more comfortable about going to be continued to be employed. They've been saving their money. They certainly haven't been investing in the stock market. We know that. So they have the cash on the sidelines and I think they'll part with a little bit of it just to spruce up their homes.

ANCHOR (OFF-CAM) ENGLISH SAYING:

What about what's happening with the market right now? I mean the early flows into funds seem to indicate that now there's some retail traction. Is this for real? Is this finally when the retailers come back in?

NEIL HENNESSY, CHIEF INVESTMENT OFFICER, HENNESSY FUNDS (ON-CAM) ENGLISH SAYING:

I don't think that retail is going to be in for a while. I think what's going to happen is once they get their statement in the fixed income arena when rates go up and their principal comes down, I think that's when you're going to attract a lot more money to the market from the retail side. The perception out there is the market hasn't done well over the last three years. It has done very well. And people were still fearful of going back the March of '09. And they don't want to take that risk especially when they see the markets up 100% and they go, I already missed it. Well, you haven't missed it. There's so much more to go in this market, but they're going to still stay on the sidelines until you get back to the late '90s euphoria.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
03:47p OGLE COUNTY IL : Two Vehicle Accident
03:41p INTERNATIONAL CONSOLIDATED AIRLNS : British Airways flights cancelled due to system outage
03:39p BAKER HUGHES INCORPORATED : Rig count gains for 19th week; Texas drops one
03:39p Piggyback transportation puts China's logistics system on fast track
03:37p ONGC ON TOP OF THE WORLD : Three ONGCians summit Mt Everest
03:37p FAIRPOINT : Second Price Monitoring Extn
03:37p PRESIDENCY OF REPUBLIC OF GHANA : President Akufo-Addo’s Ramadan Message To Muslims
03:32p STATEMENT : US Isolates Itself on Climate Change at G7 Summit
03:27p BANK OF CYPRUS : Bitcoin is here Currency, capital, or ransom?
03:27p BANK OF OZARKS : Topping out the waterfront Developer plans to add 184 units to waterfront
Latest news
Advertisement
Latest Videos
USA - ROSNER
Positive macro picture for U.S. consumers - BNP Paribas
SINGAPORE - ROSGEN
U.S. dollar has further to rally - Citi
UK - SHAH
Fiscal consolidation may lead to rate upgrade for India - Shah
UK - PARSONS
QE makes the rich richer and the poor poorer - NAB
USA - AMOBI
Turner Broadcasting a bright spot for Time Warner - S&P Capital
SINGAPORE - ROSGEN
Good environment for equities now - Citi
UK - SHAH
Investors want to see India cut subsidies - Shah