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Power Play: Why 2016 will be better for earnings

Traders work on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters

The Dow and are flat this year as concerns about the Fed, economic growth and China weigh on the market. But if investors are patient, they may be rewarded in 2016.

Morgan Stanley Investment Management Senior Portfolio Manager Andrew Slimmon tells CNBC's "Power Lunch" on Thursday earnings will be better next year.

"2016 is expected to be a better earnings year as the oil sector won't be such an anchor," Slimmon said.

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He believes now is the time to invest in companies that can grow in a low-growth environment.

"Health care is a sector that has great secular growth, but remains cheap because of headline risk…In the depressed, I believe the energy sector is [a] group that could have a better 2016," Slimmon said.

Technology is another sector Slimmon likes right now.

Health care and energy are higher during trading, but technology is lower.