Warren Pies, co-founder and strategist at 3Fourteen Research, identifies is the single-best bad news fighting asset around right now.
We’re one day away from finding out whether the Fed can deliver a potential jumbo rate hike without crushing the market.
Ahead of that, stock futures are falling after Ford warned on high supply costs, on the heels of FedEx’s FDX profit caution last week. “I think that you just have a lot more potential outcomes in the future now where stocks and bonds are positively correlated. There’s very few assets that can hedge the risks that are out there. And I think energy is the perfect asset,” Pies said in an interview that published last Friday with Real Vision.
As for the types of oil companies, Pies advises keeping it simple. “You don’t need to take on any kind of company specific risk or beta right here. Buy the bellwethers, the big energy companies, liquid energy companies. The strategist sees a similar set up to what happened after the last tech bubble between 2000 and 2005, when markets entered into a new commodity secular bull market, and quality plus energy lagged the market, especially the tech space. He sees that similar setup playing out over the next year.
Hear from Ray Dalio at the Best New Ideas in Money Festival on Sept. 21 and Sept. 22 in New York. The hedge-fund pioneer has strong views on where the economy is headed.
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