Solar power's ‘a decade-long story’: Pro

Monday, 21 Oct 2013 | 6:21 PM ET
Netflix's Hastings hopes to partner with cable providers
Netflix CEO Reed Hastings says he owns a Comcast cable box at home, and he wishes he could access Netflix on it. CNBC's Julia Boorstin reports.

Solar energy has a red-hot future, Josh Brown of Ritholtz Wealth Management said Monday after a strong finish for First Solar stock.

"I'm long, and I'm not selling," he said, adding that he also holds a position in SunPower. "But ... the name that makes more sense than chasing First Solar here is TAN. That's an [exchange-traded fund] that owns the 22-most-levered-to-solar companies in the world. It's global. It's got Europe. It's got China and U.S."

On CNBC's "Fast Money," Brown said that the Guggenheim Solar ETF offered opportunity while de-emphasizing risk.

"That's now making all-time highs from when it launched," he said. "That's the one because you minimize single-stock risk, but you still play the theme. And again, this is for investors. If you want to trade the names, you certainly could."

(Read more: Bill Nygren's two new stock picks)

Brown said that the solar power had industrial growth factors behind it.

"Most people in America still, when they think of solar stocks, they think about, like, their neighbors' roofs," he said. "That is not what's happening here. This is now an industrial play. All of those stocks I just referenced are building power plants, and they're getting massive engineering contracts. This is not about selling shingles to your neighbor. And I'm talking globally."

Best long-term bets
Barbara Marcin of Gabelli Funds, explains why she is betting long-term on Xylem and Apple. "Apple is continuing to show its strategy of delivering on the high end," she says.

Brown noted that Berkshire Hathaway's CEO was a believer.

(Read more: Bond strategy: Sell Treasurys, buy … solar, like Warren Buffett?)

"Warren Buffett is building the largest solar plant in the world right now out in the desert here in the U.S.," he said, adding that Google is also augmenting its solar power capacity.

"That's the opportunity," he added. "And I don't think it's a short-term trade. I think it's a decade-long story."

Tim Seymour of EmergingMoney.com said he expected the space to perform better.

"You're actually seeing overproduction come down," he said, adding that Chinese demand was up.

(Read more: Play the 'massive sea of liquidity': Joe Terranova)

Seymour held a long position in Trina.

StockMonster Guy Adami was less sanguine.

"A couple of things strike me," he said. "Extraordinarily volatile. We're trading up against levels we last saw a few years ago."

By CNBC's Bruno J. Navarro. Follow him on Twitter @Bruno_J_Navarro.

  Price   Change %Change


Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET
  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

  • Scott Wapner is host of the "Fast Money Halftime Report," which airs weekdays from 12 p.m. to 1 p.m. ET.

  • Guy Adami is a contributor on CNBC's "Fast Money." He also is managing director of stockMONSTER.com.

  • Najarian, the "Pit Boss," is cofounder of optionMONSTER.com, a news site for options traders.

  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

Halftime Report