Portfolio Manager Recommends FedEx (FDX, HPQ, PLD)

Markets seem to be unable to sustain their momentum. Michael Cuggino, president and portfolio manager with Permanent Portfolio Funds, still holds a positive opinion about the market.

He told CNBC, “Liquidity is there, corporate profits are there, interest rates are low and dividend yields are very favorable versus bonds. I think net-net, it’s a good environment for stocks and the economy in general.” He also ruled out the possibility of double-dip, but warned that the economy may grow at the slower rate.

He recommended FedEx (NYSE: FDX) and ProLogis (NYSE: PLD). He also likes Hewlett-Packard (NYSE: HPQ).