We find the record-low interest rate environment to be very supportive of further gains in equity prices. That does not mean that we won’t soon see a correction. But with low inflation and not-too-hot, not-too-cold U.S. economic data and profits and balance sheets remaining strong, equity valuations still seem reasonable.
We retain our long-term enthusiasm for our broadly diversified portfolios of undervalued stocks -- such as two energy issues: Ensco (ESV) and Halliburton (HAL).
Ensco is the world’s 2nd largest offshore driller. The firm operates across six continents with one of the newest jackup and deepwater fleets in the contract drilling in dustry, including 9 drillships, 13 dynamically-positioned semisubmersibles, 6 moored semisubmersibles and 46 premium jackups. (more)
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