Ken Heebner on Why He Likes Citi, Airlines And Why Ukraine MattersVW Staff
Beginning this Friday, April 18 at 7:30 p.m.(ET) on WLIW21 (New York) and nationwide on public television (check local listings**), “Consuelo Mack WealthTrack” features a new interview with CGM Focus Fund‘s “Great Investor” and legendary stock picker Ken Heebner.
Ken Heebner on why the Ukraine matters in the market:
Ken Heebner: “Now, suppose you are an investor that's 60 percent in technology stocks and 70 times earnings and suddenly you read in the paper that the Cold War is heating up because there's an invasion of the Ukraine and our government has decided that we're not going to tolerate this new Russian activity and we're going to increase defense spending 30 percent? Well, I think you might decide you don't want to own any technology stocks and you need to own some defense stocks and you're completely in the wrong place. So I think that it could, if he invades, you could really see a leadership change and leadership changes generally create market corrections.”
Consuelo Mack: “A leadership change?”
Ken Heebner: “From technology to defense.”
Why Heebner owns Citigroup Inc (NYSE:C):
“The fact is eight times earnings for one of the leading companies in global finance and this is a company that's got an incredibly strong business position around the world. And they're very capable in all their businesses. There's no reason why this stock shouldn't sell 50 percent higher.”
Why Heebner owns airlines stocks:
Ken Heebner: “And I always say that if you want to fly the airlines, you don't want to own the stocks when you want to fly, and if you hate flying maybe you ought to think about buying the stocks.
Consuelo Mack: Just rewind that for a minute. So if you hate to fly that's when you should think about buying the stocks?
Ken Heebner: “About buying the stocks, yes.” (Laughter)
Consuelo Mack: “Because they're making so much money?”
Ken Heebner: “Well, because they're in the driver's seat. They know that they can overcharge you and abuse you and you're going to fly anyway, and that's when they make all the money.
“The full interview will be available after the broadcast premiere at wealthtrack.com.
Information on April 25 & May 2 episode premieres are below.
**Local market airdates and more info on Consuelo Mack WealthTrack are below.
About Consuelo Mack WealthTrack
New episodes premiere every week nationwide on public television (check local listings)
**New York metro area: Fridays at 7:30 p.m. on WLIW21, Saturdays at 8 a.m. on THIRTEEN and Sundays at 10:30 a.m. on NJTV
**Los Angeles area: Saturdays at 8 a.m. on PBS SoCal WORLD, Sundays at 3:30 p.m. on KLCS, and Tuesdays at 11:30pm on KVCRDT3 Desert Cities
wealthtrack.com – features new upgrades including a redesign to match the series' new HD broadcast look for season 10, and exclusive enhanced content. Full episode streams, Consuelo's “Action Point,” guests' “One Investment” picks, transcripts, WealthTrack Web Extra featuring exclusive episode outtakes, interview podcasts and more, are also available at wealthtrack.com.
Consuelo Mack WealthTrack is a presentation of WLIW21 in association with WNET. The series is distributed nationally by American Public Television and sponsored in part by New York Life and MainStay Investments, Loomis Sayles, and Wintergreen Advisers.
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