Tuesday, April 24, 2012

Five-Star Manager Betting on the US Consumer




When it comes to stocks, American Century Investments portfolio manager Richard Weiss likes to buy American, and he's leaning toward real estate investment trusts, or REITs, CNBC reports.

"It's consumer-driven. The [Case-Shiller] numbers today notwithstanding, it's a harbinger of better things to come," the five-star fund manager, with $12 billion in assets under management, said of real estate to CNBC's Street Signs.

"It's a bet on the recovery over the longer term and a bet on America.…The consumer represents two-thirds of the economy, and is "the major tide, the major force. We're going with that one," Weiss said….

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