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Savings Experiment: Snow Removal"Over the next five years the energy patch should offer some of the best investments around, and one standout is Schlumberger (NYSE: SLB)," says Stephen Leeb in The Complete Investor.
"Schlumberger, by a wide margin, is the best and most dominant. Its services range from well testing to pressure pumping to seismic testing, and it's No. 1 in virtually every area it occupies.
"Some of its operations, especially those that maintain the health of existing wells, are highly recession-resistant.
"Others, though, such as exploration, depend on oil's price, which determines how much money companies will spend on oil services.
"Historically, shares of oil services companies bottom before (1998) or at the same time as (2002) earnings do. Earnings, in turn, bottom after the bottom in oil prices.
"So if oil's recent lows in the mid-30s mark a bottom-a very good bet-Schlumberger's earnings should turn up in 2010, while the share price may already have turned around.
"Of course, these are relatively near-term considerations. By early next decade, if, as we fully expect, the world avoids a protracted recession or depression, Schlumberger should be flying high, in fact much higher than its previous highs. This points to a three-to-five-year target well above 115. It will be a volatile ride but well worth taking."
Steven Halpern's TheStockAdvisors.com offers a free daily overview of the favorite stock picks and investment ideas from the nation's leading financial newsletter advisors.
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