Prominent investor Stephanie Link noted on CNBC today that she had recently bought Meta (META) and Chipotle (CMG). Link, the Chief Investment Strategist of Hightower Advisors, suggested that, for long-term investors, now is “a decent time to buy” stocks.
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Why Link Bought Chipotle and Meta
Down 29% from its high, CMG has said that it expects to increase its same-store sales by about 5% this year. Further, the firm is taking measures to increase its “efficiency and productivity,” Link reported.
Meanwhile, Meta is changing hands for 20 times this year’s estimated earnings, while its revenue and operating margins are projected to increase 20% and 40%, respectively, she stated.
Link’s View of the Macro Environment
“The Relative Strength Index of the S&P is 23. That is the 12th most oversold level in the last 20 years,” the investor reported. And when the situation is “very negative and feels horrible, that’s usually a decent time to buy” for “long-term investors,” according to Link.
She noted that she had been purchasing stocks for the last two weeks and also plans to acquire shares this week.
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This article is originally published at Insider Monkey.
