Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life.

This week, Tracey is joined by Zacks Chief Equity Strategist, and an economist, John Blank, to discuss what is going on in the US economy heading into fall.

The US economy has seen a bounce off its pandemic lows across all metrics, including retail sales, unemployment, home buying, and manufacturing. But the unemployment rate remains above 10%, which is higher than it was in the 2008-2009 recession.

How can stocks be hitting new highs with the economy still struggling?

The Best Stock Investing Advice Right Now

John Blank was blunt about what investors should do.

If you’re looking to buy stocks right now, his advice?  

“Don’t be a genius.”

What does that mean?

Buy companies and businesses that are doing well, regardless of COVID. You don’t have to get fancy and buy “recovery plays”. Traders can take a look at those.

For everyone else, keep it simple.

5 “Don’t Be a Genius” Stocks

Walmart (WMT - Free Report) and Home Depot (HD - Free Report) have seen sales soar this year. But business was already good before the pandemic hit. The crisis just emphasized their natural advantages.

It’s similar to Mastercard (MA - Free Report) even though it is trading at 50x forward earnings. Trends toward digital payments were already happening, but the pandemic has pushed those forward faster.

These three continue to take market share.

If you’re scared about buying companies on the high, take a look at some that have been beaten down recently.

Both Cisco (CSCO - Free Report) and Western Digital (WDC - Free Report) sold off after their earnings and both are cheap. Cisco trades with a forward P/E of 13.5 and Western Digital is trading at 12.7x.