"We're in an era when earnings are cheap," CastleArk Management's Jerry Castellini told CNBC. "Why not take advantage of it?"
For the long-term investor, Castellini sees historic opportunities in the stock market.
These investors, he said, are facing "the cheapest stocks they've seen in their lifetimes."
So where would he move first, in a long-term investment scenario?
"The whole energy space has been ruined, and there probably isn't a bad name," he said. "I would focus on exploration companies in particular, like Petrohawk."
In that space, he also likes EOG Resources.
"I'd also go to the consumer discretionary area," he said. "Who thinks Christmas is going to be anything short of a disaster? You can start with a lot of retailers that are attractive, even Walmart today."