Robert Millen, co-portfolio manager of the Jensen Portfolio at Jensen Investment Management, and David Joy, chief market strategist at Columbia Management, shared their best plays. “We like companies that are very entrenched competitively, have global franchise, generate lots of cash and use the cash to make acquisitions, buy back shares and pay a dividend,” Millen told CNBC. “And we think dividends may play a bigger part of return going forward in the next 10 years.”
In the meantime, Joy said dividend stocks are much more attractive compared to bonds, and also act as an incentive for getting retail investors back into the market. “They’ve been scared away by the two downturns in the last 10 years and the certainty of a dividend yield may be the key to get them back in again,” he explained. “We like the equity markets for next year.”
Source: CNBC
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