Donald Trump made a vote of confidence in the stock market yesterday.
Early this morning, the real-estate mogul-cum-TV personality told CNBC that stock prices were attractive enough to bring him to the equities table.
What is he buying?
“You wouldn’t believe it. I bought Bank of America, I bought Citi, I bought, you know, two troubled companies that I think have an upside, lets see what happens. Caterpillar, Intel, Johnson and Johnson, Proctor and Gamble.”
“I love these companies. I’ve watched them for years and I’ve never owned stock in them.”
Trump was never quite into stocks. He made his name in real estate, but as he said on the program, “Good real estate is hard to get, I guess its a lot like gold.”
Another reason why he’s looking to stocks is the rock-bottom interest on CDs.
Financials and chemicals are starting off the day well, we will see if Trump was right to see value in those cheap stocks.