Jenny Harrington, CEO, Gilman Hill Asset Management

The Fed has already extracted massive pain. That pain isn't coming. It's here. Also, will we see a broad-based recession, or a recession in only employment or housing? Nobody knows. We're working through it. She expects the Fed to remain data-dependent and adjustable. The S&P multiple has slid, and $3 trillion from five stocks has already exited the overall market cap. That's the pain. The worst is probably behind us. Not everything bottoms at once; there are always pockets of great stocks to buy.

Her time frame is very long and has held it for a long time (and bought at much cheaper). She remains bullish. Meta if fairly valued and generates a lot of cash. People are misreading Zuckerberg.

She bought this in June, early. The only tech stock then that she liked, and it was for growth and sound fundamentals. She didn't expect to be rewarded so quickly.

She's holding on. (Hitting a 52-week low today.) There is more upside with this than other stocks, so she's holding. She bets that Intel will fight back against AMD as AMD tries to gain market share, even if it takes 2-3 years.

Warner is a source of cash only. Not a big holding for her.

It's a bond proxy. Has small earnings growth and dividend, but they are there. It's a super-long-term hold for 10 years that she's happy to hold for the income.

Last night, they suspended their dividend and had a nasty quarter. She had bought this because even if earnings were cut 50%, management would protect that dividend. Earnings are down 50% and didn't protect. She feel angry and depressed. She needs to figure out when they will resume the dividend and how much.

Bought it last week. Pays a 6.4% dividend and trades at 8x. A small materials company with GDP+ growth. Hide here.

Stocks will be rangebound and earnings will come down. PMI, consumer confidence and declining gas prices will buoy companies to some degree. The market isn't as bas as it looks or is.

It could very well become a dead weight, not moving much either way.

Her pick in cybersecurity. Look at their free cash flow yield and revenue growth and not just their PE. This is flat for the year, but peers have fallen lower. Likes it for their $2 billion of free cash flow and 4.5% free cash flow yield.

Just bought it. Trades at 8x PE with 5-10% growth. Prefers this to Apple. Is under the radar, a new company.

She is handpicking stocks in this bear market. Choose individual stocks. It's hard work--read the reports and listen to the calls, but it pays off. Don't buy the SPY, but would own the stocks in that ETF.

It reported last night. They have consumer and industrial businesses. They beat earnings, raised guidance, trading around 15x PE, pay a 4.7% dividend. A great company to buy now. Point is, earnings can actually go up in this environment.

If you say growth/tech stock are trading 90% below retail highs and are now worth buying, you're wrong to expect stocks like this to return to past levels. Change strategy, sectors and stocks.