Neil Hennessy, portfolio manager of the five-star-rated Hennessy Focus 30 Fund, offered CNBC insights -- and stock picks -- to beat a bear market.
"Mundane things can make a lot of money" but are often overlooked in favor of flashy trends, said Hennessy -- and those humdrum investments can also be more trustworthy during a downturn.
He conceded that "some of the speculators are taking their money out of oil" -- but he recommends Oil States International regardless of oil prices. He believes that offshore drilling will become a necessity, and Oil States supplies service products and deep-sea pipes to drillers -- a business the company handles "extremely well."
W.R. Grace: Most people think of its as a construction company, but it's actually a chemical company," he says. It boasts such mundane -- but huge -- businesses as coating food cans. Excited? Consider hennessy's numbers: WR Grace coated "340 billion cans last year."
Lastly, SPX, a diversifed company that makes everything from cooling systems for power plants to food and beverage to diagnostics for autos -- and he notes that SPX has the flexibility to move out of sectors that stagnate, lessening its auto exposure greatly in recent days.
Disclosure information was not immediately available for Hennessy or for his company.