Not being invested in equities right now is one of the “most dangerous” things to do, according to Jack Bouroudjian, CEO of Bull and Bear Partners, who believes U.S. companies will beat Wall Street’s estimates for second-quarter earnings.
Corporate America is “richer than ever before” and consumers have more disposable cash because of recent lower oil prices , Bouroudjian told CNBC on Tuesday, adding that the extra cash will boost earnings and bode well for stocks in the next few years.
“There are a few times in history, the 30s and 40s were one of those few times also, when not being invested (was) one of the most dangerous things to your portfolio,” Bouroudjian said on CNBC Asia’s “Squawk Box” . “I call this the period of accumulation. I think the next few years are going to be when you see the run in the markets.”
Bouroudjian favors U.S. technology firms and said he was advising clients to put money into the biggest firms such as Intel , Microsoft and Oracle , which are going “to come alive” as companies invest in new technologies such as cloud computing.Page 1 of 3 | Next Page