On the two-year anniversary of the Alpha Trader podcast, hosts Aaron Task and Stephen Alpher welcome back to the show, Bob Iaccino, co-founder of The Stock Think Tank.

Among the topics discussed:

While the renewable energy movement is a worthy one, the world isn’t yet ready to run on sun and wind. The lack of investment in fossil fuels has the globe on the verge of, if not already in an energy crisis. Some believe oil would need to be in the triple digits to put a sizable dent in the economy and corporate profits, but Iaccino believes this is already happening at $80.

Iaccino reminds that turning the spigots back on for U.S. shale production isn’t as easy as flipping a switch. Even if there were the regulatory appetite to do so (a big if), getting production up and running again requires capital, equipment, labor … all of which are tough to come by at the moment.

As far as the short term, Iaccino and team believe the price of oil (CL1:COM) is extended. They’ve covered their longs and are waiting for a pullback to reload.

Turning to stocks, Iaccino is bullish in the medium-term, but expects there will be one more washout in the averages prior to a resumption of the uptrend. He’s a bottom-up stock picker and never owns more than a handful of names. Among his holdings right now: Cognizant Technologies (CTSH), Hormel Foods (HRL), Viacom ([[VIAC]], [[VIACA]]), Ford (F), Salesforce (CRM), and Sprott Physical Gold ETF (PHYS).

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