Eric Bolling Identifies Some Good and Bad Investments For President Obama's Second Term
Eric Bolling, co-host of The Five, stopped by Fox and Friends this morning to discuss where he believes investors should put their money over the next four years, following the re-election of President Obama.
He also reacted to the news that 355,000 Americans filed for unemployment benefits last week, a drop of 8,000 from the previous week. Bolling said the number is a step in the right direction, but it's still not where it needs to be for the economy to start seeing significant job creation.
So what areas of the market should you avoid during Obama's second term?
Bolling listed coal companies and oil drillers as specific stocks that you may want to stay away from.
"(President Obama) in no uncertain terms has told us he hates coal because of the environmental effects. In fact yesterday (when the Dow dropped 313 points), the big coal companies across the board lost 10 percent of their value. ... Oil drillers, we know (Obama) doesn't like to drill, stay away from the drillers," he said.
For people looking for safe returns or fixed income investments, Bolling cautioned against buying bonds, pointing out municipal bonds as particularly risky. He explained that bonds are tied to interest rates, and under President Obama, Fed chair Ben Bernanke has given no indication that he will raise rates, which are currently near zero.
"Do your homework (on municipal bonds). There are a lot of municipalities that are in trouble. They're underwater, they have a lot of pension problems that are going to need to be either bailed out, and a lot of them may go belly up," Bolling said.
Where should you look to invest? Watch the video below for those tips, and watch more of Eric Bolling on The Five, weekdays at 5p ET on Fox News Channel!
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