Hedge fund manager Dan Niles is preparing for the potential of another steep decline for stocks in 2023 with a top picks list that leans defensive. Niles said on CNBC's " Squawk on the Street " Tuesday that he expects the S & P 500 to fall to 3,000, which is more than 20% below where the index finished 2022. As a result, many of Niles' top trade ideas are those of a cautious investor, headlined by cash and short-term government debt. "Now you can get 4.
"I think a lot of people, like myself unfortunately, put off going to the doctor during Covid, and now there's a little bit of catch-up left," Niles said. The Satori Fund's healthcare play is the Health Care Select Sector SPDR Fund . Niles' third pick was the Global X Uranium ETF , a fund that holds shares of many companies involved in the mining or refining of uranium.
What are they?
Haven’t we had enough of these pessimistic people talking everything in their sight down? For goodness sake - let’s get some good news out there for a change!