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The golden age of the railroad is back, says Gary Kaminsky. The Neuberger Berman managing director says "the rail story" is a key to America's economy now -- and he told CNBC which rail stocks his firm holds.
"Rail moves everything: coal, grains," said Kaminsky, who will retire from his MD post at Neuberger on June 30.
And he said the railroads are going to keep growing, as trains are helping companies avoid the soaring costs of gasoline- and diesel-powered automotive carting, as oil prices climb.
"In the Midwest, you see the 18-wheelers [used for transporting goods]...coming from California, are actually on the trains," he said. "The rail story...is separate within the transports."
Recommendations:
Kaminsky likes Kansas City Southern [KSU
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]: "We've been the largest holder for some time."
His firm also holds shares in freight-logistics firm Expeditors [EXPD
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].
In other sectors, Kaminsky said Neuberger continues to have significant holdings in Suncor Energy [SU
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], the Canadaian oil-sands and natural gas concern.
Disclosures:
Kaminsky, his family and his firm have significant holdings of shares of the companies discussed; and the companies discussed may now be or may have been investment banking clients of Neuberger Berman.
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