Hot picks: Energy stocks
In an interview with BNN Bloomberg’s Amber Kanwar on Tuesday, Cole Smead, president and portfolio manager at Smead Capital Management, said the volatility within the energy industry will weed out investors who are only interested in short-term trading gains, but will reward the ones who stick with these stocks for the next 10 years. He also anticipates opportunities to arise as the industry consolidates.
“You have to go through the pretty nasty, violent corrections in the space to really to shake people off the bus that aren’t long- terms owner,” he said.
Smead recommended MEG Energy Corp. (MEG), Whitecap Resources Inc. (WCP) and Cenovus Energy Inc. (CVE) as his top picks in the energy sector.
He, his family and his firm own all the stocks mentioned above, however his investment banking clients do not.
Check out the full video at the top of the article to learn more.