Amid the pop in oil prices in recent days, David Nelson, chief strategist of Belpointe Asset Management tells TheStreet’s Scott Gamm how petro-chemical company LyondellBasell Industries (LYB) is a safer way to play oil. ‘Refiners have been good to us, but we’re starting to get out of those positions,’ he said. ‘If oil doesn’t go up from here, LYB is probably at a trough valuation and probably a good place to be to play the space and benefit from any recovery that happens.’ Nelson also comments on the Federal Reserve’s rate hike, sectors to watch and why cash may not be the best place for your money.
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