Banks are a different story. “They’re a tough place to be. I wouldn’t buy them for a dividend raiser,” he says.
One bank exception for both of them is Wells Fargo. When asked why, Spears jokes, “Warren Buffett owns it.”
Kidding aside, Spears says the bank’s yield is attractive and it has a good return of capital with a unique culture.
Picking stocks in Asia is a little trickier, Madsen says, but it can be done. It requires a little more research than just seeing how the companies look on paper. This is especially true regarding Chinese banks and regulatory issues, he says.
“You have to go in and not trust what people tell you,” he says.