Leuthold Group equity strategist Doug Ramsey shared his thoughts on the historic bull market and which areas in technology he finds most compelling in an exclusive interview with CNBC PRO's Mike Santoli.
"Our primary tactical product is overweight equities, despite our concerns on valuations," explained Ramsey. "I've got to say it's acting very youthful. I mean, we've joked that at a time when the bull would normally maybe need a mortician, this is one that could need a pediatrician in terms of some of the internal measures of momentum and breadth."
Ramsey is chief investment officer and a portfolio manager at The Leuthold Group. Before joining the Leuthold team, he was chief investment officer of Treis Capital, where he managed equity portfolios and published equity research. The strategist oversees Leuthold's Major Trend Index, which evaluates the underlying health of the financial markets.
As a part of his interview, Ramsey also revealed some of the most compelling stock areas he's looking into.
"You'd think at this time of the cycle that maybe hey it's time to rotate into some health care or some consumer staples or even utilities. But instead what's been ranking up near the top of our quantitative industry group work for quite some time has been technology and pretty high beta technology," he said. "We've had a great run with semiconductor equipment stocks this year. We own the airlines, we're in banks — so it's a lot of pretty high beta groups that we currently own."
Reflecting Ramsey's take on stocks, technology remains an outperformer this year, leading the to a 19 percent climb. But within the last three months, tech has given away to financials as hopes for tax cuts buoyed banks and telecom companies.
Airlines United Continental, Delta and American Airlines are up 9 percent, 11 percent, and 11 percent, respectively, over the past month.