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Wealth Management
Opportunities in Uncertain Times
A depressed stock market holds profits for investors who can overcome their fears.
Taking regular losses and gains gives you the opportunity to buy quality companies at reasonable prices.
L. Scott Merritt
National City Private Client Group
Senior investment officer and vice president, Sarasota
Assets under management: $2 billion (Florida)
Minimum investment: $500,000 (emerging affluent) to $1 million
What he likes: Large-cap U.S. stocks, particularly in the industrials, materials and energy sectors. Merritt likes a basket of industrials and materials that will benefit as communities build and rebuild infrastructure. He’s a fan of the oil sector and sees utilities as a way to realize both appreciation and income.
What he doesn’t like: Telecom services, financials, healthcare and consumer discretionary stocks. He is less bullish on small-cap stocks and the international arena.
Tax strategy: Although his focus is long-term investing, Merritt says it is important to consider taking losses and possibly gains on a regular basis.