Energy
CGM's Ken Heeber Talks Oil Services (SLB, BHI, VIP, POT, OIH)
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If you know market pundits, you know Ken Heebner of CGM Realty. He made a fortune for investors on investing in real estate and he ditched that las year in favor of other plays. This morning he was on CNBC discussing his outlook, and he is one of the pundits to watch.
Two holdings he was discussing today that he is still holding are
But he was still very positive on energy and oil services because of decline in major oil fields in the world are in decline and demand from emerging world will keep prices higher. The good news for property owners is that he doesn’t believe in the theory that a US housing-led recession, even though economy may go sideways and flatten retail sales, will kill the global growth story because for the first time in recent history the U.S. isn’t the driving force. Oil services is a major sector in Heebner’s portfolios now and he is still positive on Schlumberger (SLB) and Baker Hughes (BHI) today. He didn’t mention the OIL SERVICES HOLDRs (AMEX:OIH), although that is trading up nearly 1% more today in early trading.
Jon C. Ogg
September 28, 2007
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