Blackstone (BX) and Citigroup (C): 'Among the world's best companies'

He notes, "Citigroup's stock price is essentially where it was in year 2000. However, during that time, their earnings have almost doubled and the company is much stronger than they were back then due to the global growth story."

With a dividend yield around 4.5% and a Fed that is lowering rates, he forecasts, "Citigroup is a stock with room to run." He emphasizes, however, that this position is recommended as a long term investment, and not as a trade.

Also being added to his portfolio is the Blackstone Group LP. He says, "This is the best run private equity firm and managed by some of the smartest guys in the world."

He adds, "With the Fed lowering rates and making money cheaper, M&A activity could once again pick up and Blackstone is sitting right there to take advantage of it."

He also notes that there are rumors that the company could go private in the future. But he asserts, "This is only a rumor and it is not a reason to buy the stock. Rather, we are buying the stock to take advantage of global growth, lower rates, and very smart managers.

In sum, the advisor explains, "Given recent market volatility, our plan is to add the best companies in the world to our portfolio that are benefiting from global growth, aging baby boomers, technological advances, & the financing of the global growth."

Each day, Steven Halpern's TheStockAdvisors.com features the latest stock picks and investment ideas from the nation's leading financial newsletter advisors.