Biggs's colleague at Morgan Stanley, Byron Wien , is a little more daring. He also likes emerging markets and Japan, where restructuring and reforms look promising. Despite their many differences, you'd think the pundits would all be lured by power and energy plays. But you'd be wrong. When it comes to oil and gas, a few of our pundits are taking money off the proverbial table.
Higher prices beget lower demand and greater production.
Natural-gas prices are also likely to drop under an administration that's likely to ease restrictions on drilling. If you must own this group, Galvin recommends selectivity. They also sell products that are sufficiently proprietary, meaning the companies can capture the benefits of lower energy costs and a weaker dollar instead of passing them through to the consumer. The pundits have made their picks. Now it's your turn to make yours.