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With Big Bank earnings around the corner, Rational Dynamic Brands Fund portfolio manager Eric Clark joins Morning Brief with Seana Smith and Brad Smith to discuss his expectations for earnings season.
"I think the banks will be fine. Goldman [Sachs] (GS) should probably paint a pretty good picture," Clark says, noting, "We're more focused on the asset managers. There's a big trend in wealth management with money migrating from public equities and public fixed income over to privates."
"Those asset managers have had pretty decent pullbacks here, making some pretty attractive entry points as we head into earnings," he adds. Blackstone (BX) is the first asset manager to report on January 30.
The portfolio manager says this earnings season will be put the "haves and the have-nots" categories on display, adding, "I think it's going to be a bifurcated market with earnings because expectations are a little high going into the year."
Editor's note: Clark mentions Apollo Global Management, which is the majority owner of Yahoo, Yahoo Finance's parent company.
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This post was written by Naomi Buchanan.