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Stock Picks: Gold & Black Gold

Andrew Fisher
Wednesday, 16 Jul 2008 | 12:46 PM ET

Gregory Church has two big contrarian plays for investors. One is as good as gold, and the other involves another refining process.

Market Pulse Check
Market watchers weigh in on gold and financials, with Gregory Church, Church Capital Management and David Stepherson, Hardesty Capital Management

The founder and chief investment officer of Church Capital Management thinks gold still has some headroom.

"Even the Financial Times, in January, that's been no fan of gold...said, 'The new currency of the world is gold," he told CNBC. "If the dollar is not going to be the lead currency, I'm not ready to anoint the euro as the new world currency. Gold's a good place to be...I think it goes a lot higher."

Recommendation:

He also has his eyes on oil refiners.

"I think they've just been sold off completely," he said.

"Tesoro: eight refineries, it's got a $2 billion market cap, can't build them in the United States, they're giving these away, and it is a contra-play in energy: if energy does fall, crack spreads have got to widen, and these guys are going to start making money again."

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CNBC Video Reports:

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Disclosures:

Disclosure information for Gregory Church was not immediately available.

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Refiners & Refinery Plays
:

- Valero Energy

- Exxon Mobil

- United States Oil Fund

- PowerShares DB Oil Fund

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Disclaimer

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