The managing partner at Douglas C. Lane & Associates favors Morgan Stanley, among other stock names.
Investor Sarat Sethi shared his stock picks to position for a higher-for-longer interest rate environment. The managing partner at Douglas C. Lane & Associates named Morgan Stanley as his bank pick, saying that the firm's core wealth management business will do well in the current rate environment. "If you look at kind of where they are compared to their peers, we feel that's kind of the right business you want to be," Sethi said Thursday on CNBC's "Squawk Box.
" The managing director said he favors Uber Technologies' positive cash flow , which it reached for the first time this year, as well as its brand and international footprint. "That's what these stocks need to do," Sethi said. "In an environment where rates are where they are, you're not getting a free call option for just growth without any cash flow." Uber on Tuesday missed expectations on the top and bottom lines but topped its guidance for gross bookings.
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