DEBORAH MARCHINI, CNN ANCHOR: My guest this morning is Norman Fuchs. He is a senior technology analyst at Analytechs. And Norman, we talked a little about Marconi taking a hit. The company's market value in Europe today has been chopped in half, and they're cutting 4,000 jobs. That's probably its first opportunity to have an impact on the U.S. markets today, and I've got to think it's just one more blow for the telecom sector.</s>NORMAN FUCHS, ANALYTECHS.COM: Well, we've been discussing the telecom sector ad nauseum for the last six months. And again, as I continuously repeated to investors, this is not a sector that I would be involved in at this time. It doesn't show me any exit at this time for the current downturn in that sector.</s>MARCHINI: Where do you see more promising prospects?</s>FUCHS: Well, in this market, and not being a specialist in the other areas, I see the financial sector being a bit more comfortable at this point, specifically the oil sector being more comfortable at this point. And I think they -- with OPEC controlling and actually doing something in concert on actually managing and controlling the prices -- I see that oil and gas can maintain a steady stream of earnings in those areas.</s>MARCHINI: Really briefly, any specific companies?</s>FUCHS: Exxon usually comes to mind, and in the banks, City and Chase and Bank of America.</s>MARCHINI: Terrific, thank you so much -- Norman Fuchs.
Norman Fuchs of Analytechs.com Advises Investing Outside of Tech Market