Refinitiv Newscasts - Healthcare, defense, energy stocks look appealing -CIO

Big Sky Industrial

12/04/2023 21:00

Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_aov106fw&referenceId=tag:reuters.com,2023:newsml_RW458812042023RP1_930&pageId=RefinitivNewscasts
Source: Reuters

Description: Pence Capital Management Chief Investment Officer Dryden Pence
said healthcare, defense, and energy stocks are worth investing in during this
uncertain time in the economy.
Short Link: https://refini.tv/3o2gdcB

Video Transcript:

I think at this moment, with so many things going on and some uncertainty
ahead of us, of exactly what the Fed policy is going to do, you want to look
for the areas to invest in no matter what. So, we like health care because the
aging American populace, nothing the Fed does is going to stop the American
public from needing health care. Nothing the Fed does is going to stop the
American public from getting older. When we look at defense sectors, that's
very important because we don't necessarily see PE spontaneously breaking out
in the world. And NATO has agreed to increase their spending, 19 countries now
instead of nine, up to 2%. So that's billions of dollars of additional defense
spending. That's going to happen regardless of what the Fed does. And then we
think energy sector is probably an attractive sector to be in because the
world is not going to stop its thirst for oil anytime in the next 36 months.
And we're continuing to see prices being able to be kind of moved around by
OPEC. They like a price north of 80. So, we think oil stabilizes between 80
and 90. And that's good for US energy companies. And so, I think that those
are the three sectors that people should look at. When there's uncertainty out
there, let's focus on the things that are going to happen no matter what