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Morgan Stanley’s typically bearish Adam Parker makes a pitch for buying consumer staples...

Morgan Stanley’s typically bearish Adam Parker makes a pitch for buying consumer staples stocks (XLP -0.7%) such as Kraft (KFT) and Colgate-Palmolive (CL). Staples stocks are good at playing defense - an important attribute when growth is hard to find and yield is prized - the stocks are relatively diversified, they're cheaply valued, and margin expectations are super-low.
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