Jerry Braakman manages $1.9 billion in assets and prefers gold right now to most tech stocks. But he still thinks these 5 tech companies can flourish in the pandemic economy.
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That said, he still holds shares of tech companies in his clients' accounts and is high on quite a few of them; the stocks he likes tend to have strong businesses, healthy balance sheets, and a compelling reason for why they're poised to do well going forward. If the economy booms thanks to all the money the Federal Reserve has been pumping into it, gold's likely to be a good hedge against inflation, said Braakman, the chief investment officer of First American Trust. And if the economy crashes thanks to the resurging coronavirus pandemic, gold will likely be seen as a safe haven to retain value. Meanwhile, the stock market rebound in recent months has sent many tech stocks to what may be unsustainably high prices, he said.
That said, Braakman, who manages $1.9 billion in assets, hasn't sold off all his stocks and reserved a corner of Fort Knox just yet. He still owns tech shares in the accounts he helps manage for First American's clients and has some that he particularly likes.
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