Monday, February 06, 2006

Still the one.

CNBC: Manager targets Diamond Offshore, Barr Pharmaceuticals.


The impressive run-up in shares of oil and gas drillers has some on Wall Street wondering whether it’s time to take some money off the table. That would be a mistake, according to J.C. Waller of Icon Advisers.

“Drilling is the most attractive industry in the market,” Waller said Friday on CNBC’s “Squawk on the Street” “We have the average stock in the drilling sector trading 40% below fair value. If there’s one industry group in the market that I would want to be in, that’s the group.”

Drillers are among the holdings in the Icon Energy Fund ICENX Waller manages. He also oversees a health-care fund, the Icon Healthcare Fund ICHCX.

P.S. We're still having fun, right?