Energy stocks are a bright spot in the market and the US is set to sidestep a significant downturn, according to"Shark Tank" investor Kevin O'Leary.
"I love energy. Everyone hates energy. If you didn't own energy in the last 18 months, you miss the market. Go where people hate it. Energy is driving the pivot," O'Leary said in an interview withThat echoes the view of other Wall Street strategists, who have forecasted a good year for energy, commodities, and industrials while other sectors continue to struggle after a bruising 2022.
over the next 12 years, with significant gains in areas of the"old economy" following a long period of underinvestment that has led to supply chain snags. Those factors will drive prices higher over the next decade, Currie predicted, contrary to trends in tech and growth stocks, which will struggle against interest rates and high inflation.
O'Leary also remained optimistic on the economy broadly. He previously made the case that the US could still sidestep a recession in 2023, despite warnings of an impending downturn from other Wall Street forecasters. Though inflation is still well-above the Fed's 2% inflation target, the labor market and consumer spending are still strong, he said, emphasizing that a
I don’t trust a word that comes out of his mouth.
He said Sam Banksman Fried was the new Warren Buffet 🙄