Remember the hedge fund trade of the week, the segment in which Anthony Scaramucci revealed where the fast money was finding opportunity? We’ve brought it back – sort of.We’re calling this the hedge fund trade of the quarter – Anthony Scaramucci of SkyBridge reveals where he and his smart money colleagues are putting money to work over the next 3 months.Scaramucci’s trade is long Pfizer , Phillip Morris and/or any other “large cap US multinational with yield above the 10-year Treasury."Scaramucci recommends this trade because he thinks the rally may be facing some headwinds. “At some point you have to ask yourself when the rally starts to fade,” he says.
Although he didn’t mention specifics, there’s chatter than a slowdown in Europe, a possible hard landing in China and other overseas factors may call the rally into question.Ontop of the questionable fundamentals, there’s also seasonality at play. “Don’t forget that saying, sell in May and go away.” There’s a reason people say that.
The stocks mentioned above should continue to advance if the market remains strong, yet be realtively resilient in the event of market weakness. “Right now, I’d be more cautious," Scaramucci counsels.
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