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Power Play: Be a long-term investor in a short-term market

Source: Cerner Corporation

Stocks are on track to end the year flat as concerns about oil prices and the Fed weighed on the market.

Jim Kee, president and chief economist at South Texas Money Management, tells CNBC's "Power Lunch" on Wednesday the key to investing in 2016 is to diversify your strategy.

Read More Stocks lower amid oil slide; transports fall

"Think like a long-term investor in a short-term focused market [and] do that with value stocks and growth stocks," Kee said.

He also stresses the importance of buying individual stocks over funds.

"The big three horror stories for investors this year have been the energy sector (including MLPs), emerging markets, and Puerto Rican bonds. Knowing and controlling exactly what you own allows you to know your exact exposure to these and other risks down to the business-segment level," Kee said.

One of the stocks Kee likes is health care IT company Cerner. "Medical records automation [is] a growth industry regardless of regulatory or political developments," Kee said.

Cerner is down one percent during trading.