BNNI don't often watch BNN
In the last week or two I've had it turned on for one reason or another.
In both cases, a portfolio manager was being interviewed and answering questions.
In both cases the portfolio manager was asked about oil and gas stocks. In both cases the answer was the same.
To paraphrase
.......We consider oil and gas to be a sunset industry. We invest long term, and so do not invest in oil and gas.....
Translation - we don't invest in oil and gas stocks, so we don't follow them, or know anything about them. We justify failing to invest the porfolio in the hottest sector last year (and likely this year), by claiming they are a "sunset" industry.
There is a lot of catch up to be done by these portfolio managers as they educate themselves on a sector they've ignored. Sooner or later the money they invest will walk out their door into the hands of more capable portfolio managers that are better able to make wise porfolio investment decisions.
The above is an example of why I don't watch BNN - competant porfolio managers don't have the time or need for self promotion.