Acing Market Maneuvers In A Lasting Government Shutdown
Chief Investment Strategist at Wells Capital Management James Paulsen appeared on on CNBC's Squawk Box Wednesday morning where he discussed the right type of investments to buy into if the government shutdown lasts an unexpectedly long time.
Paulsen is confident that the both parties will come to a compromise and that the government will be back in action, but he noted that "for sure, the longer this goes on everyday, the greater the panic will build on Wall Street."
He said that he's seen analysts' estimates that a weekly impact on GDP of one tenth of one percent is likely to occur if the shutdown continues.
"It can't drag on for a long time. If it drags on for a month or something, then you know, we've got half a percent of GDP. That starts to become significant," said Paulsen.
"But I think, I think if it does sell off…this is to me more an opportunity when I look beyond the next couple of months and I look for a 12 month window. I'd have my shopping list ready and see which parts gets hit the hardest, because I'd take advantage of that."
At the time of this writing, Jason Cunningham had no position with the mentioned entities. Visit Jason on Twitter @JasonCunningham.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.