Biz Buzz: Author applauds business bloggers from Iowa

Squawking: Des Moines-area financial guru Don DeWaay was a guest Friday on CNBC's "Squawk Box," where he said: "It's a much easier environment right now to make an investment decision than it was three or four years ago, (because) everything has been stress-tested."

But that doesn't mean there isn't still a lot of uncertainty.

"I couldn't tell you within a thousand points where the Dow will be in six weeks, six months or six years," he said.

So where does DeWaay tell clients to put their money?

"In addition to publicly traded securities, our firm focuses on where the wealth was created in this country with the wealthiest individuals, and that's direct ownership of businesses, real estate and things of that nature," he said.

"We believe some of the greater opportunities exist in direct investments in things like collateralized lending ... real estate, equipment leasing and, frankly, private equity."