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Power Play: Global opportunities in 2016

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The stock market is selling-off on Monday as energy prices tumble, but the slide also creates some opportunities for investors.

Michael Cuggino, president and portfolio manager of the Permanent Portfolio Funds, tells CNBC's"Power Lunch"energy and natural resource names are cheap here. "Longer term, the world needs the products they provide," Cuggino said.

He also likes precious metals. "We're also believers in gold and silver as part of a wealth building and preservation strategy. Prices are low, act as a hedge against stock and bond risk, and if the Fed is raising, then they are seeing some inflation taking hold," Cuggino said.

Read MoreThe 4 energy stocks trading at decade lows

Robert Zagunis, co-portfolio manager of the Morningstar 4-star rated Jensen Quality Growth Fund favors businesses with exposure to strong emerging market growth.

"Despite short term concerns, we believe global growth will likely continue to be fueled by the emerging economies," Zagunis said.

One of Zagunis' picks right now is United Technologies. "United Technologies is among the fund companies that are most exposed to infrastructure building in China and other emerging markets," Zagunis said.

WTI and Brent crude are lower during trading, as are gold and silver. United Technologies is also lower on a down day for stocks.