$9 billion money manager who called record run sees new highs ahead (via TradingNation)
"Value stocks had really been left in the dust. That rotation has kicked in. We've gotten much more of the cyclical names, the value names, acting better. I think that can help take us to new highs," he said Friday on CNBC'sAs for the things that kept stocks at bay for much of this year, namely worse-than-expected economic data, recession fears and the U.S.-China trade dispute, Stone maintained a fairly positive outlook.
On the economy, Stone, who "doesn't see a recession" coming anytime soon, hoped to see more data that support the idea that "the U.S. and globally economy have kind of stabilized and hopefully put in a bottom here," he said. "That certainly helps," the investment chief said. "And ... connected to that is clearly the trade dispute. ... Sometimes, we get headlines that maybe call some things into question, but, at the end, I think we are kind of moving toward at least a détente. And, frankly, détente's enough.""We're right in that sweet spot" of just under 2% on the, Stone said.
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