While the mantra for many market lately has been that we should shy away from the oil and gas stocks, the portfolio manager Niklas Hallberg, who along with two colleagues responsible for managing eight of KLP billion in Norwegian listed shares, a different perception , writes DN.
– It’s very tempting, so the world seems now to be countercyclical, says Hallberg, who believes commodity stocks generally and oil-related stocks in particular can be good investments now. His reasoning is that the bad times are baked into stock prices for that commodity prices have fallen an average of 60 percent over the past five years and the price of oil has been weak over the past 12 months. They provide good arguments for a sectoral shift, he said.
– We have started buying in offshore again. We buy stocks of companies without much debt, but not in such a great extent yet, he says to DN.
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