Gearing up for a U.S. upturn

Mackenzie sub-advisor David Ginther expects machinery makers will be among the winners.

Sonita Horvitch 16 March, 2011 | 6:00PM

David Ginther, senior vice-president at Waddell & Reed Investment Management Inc., has substantially increased his holdings of industrial stocks in the U.S. dividend portfolio that he manages.

He has also added to his holdings in consumer discretionary stocks, another economically sensitive sector. This is part of his ongoing theme to focus on more cyclical stocks geared to the global economic recovery.

Ginther says that U.S. industrial companies have emerged from the recession with lower cost bases, after implementing significant cost-cutting measures, and are now starting to reap the rewards of improving revenues. The U.S. consumer is starting to feel more confident, he says, and will be spending more money on discretionary items such as travel and entertainment.

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Sonita Horvitch

Sonita Horvitch  

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