Arieh Coll, manager of the Eaton Vance Tax-Managed Multi-Cap Growth Fund, shares his best stock picks to beat the volatility blues.
One company he thinks has “excellent prospects” is oil and gas firm Hess.
“This company is only trading at nine times earnings but growing earnings very rapidly, because they get 80 percent of their profits from oil production,” said Coll.
“What’s really exciting about this company is they’re drilling for oil in off-shore Brazil, which we think is going to prove to be the largest source of new oil ever discovered in the entire world in the past 50 years.”
His next pick is BlackBerry maker Research in Motion .
“We’ve actually owned the company for four years, and the stock has appreciated 1,000 percent while we’ve owned it -- but we think it’s going a whole lot higher, because they only have two percent market share of the global handset industry, and Nokia has 40 percent. There’s a long way for them to go.”
- Learn more: Watch the entire interview 2 mins, 31 secs
Coll also likes coal company Fording Canadian , which he expects to have a 25 percent dividend yield in the next year
“Fording is a miner of metallurgical coal in Canada, and met coal is an essential ingredient for the production of steel. There is a global shortage of this product, and two weeks ago the price for this coal was raised by 200 percent.”
Disclosure information was not immediately available for Coll or his company.