...yes, avoid Energy sector because there is a new energy revolution coming...one that will move away from oil and fossil fuels.
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Do NOT Buy Any Stocks in This SectorBy Shah Gilani
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This year's brought to my attention the clear winners and losers of the stock market, as it stands now.While work-from-home-centric stocks like Zoom Video Communications have taken off at warp speed, companies like American Airlines are circling the drain.But there are some companies that have slipped under the radar, fooling us into thinking that they're still solid - when in reality, the complete opposite is true. And I know that a lot of these stocks are lurking in the portfolios of thousands of investors...Take energy, for instance.The energy sector is the backbone of the world economy. Without energy companies, we wouldn't have fuel, heat, electricity... nothing that we associate with modern life and comfort.The numbers speak for themselves - ExxonMobil, the country's largest oil company, is worth $142 billion. Chevron comes in second at $141 billion. BP, Shell, and Equinor have a combined market cap of $200 billion.The list goes on and on. And with a global revenue of $3.3 trillion - the energy sector is the third-largest industry in the world, but in case you haven't noticed, oil companies have gotten HAMMERED this year.The industry had to deal with two devastating events: first the general effects of COVID-19, then when oil prices went negative in April. That's never happened, EVER.Logic would have you think that now's the time to buy up as many oil companies as you can, while they're all trading at a steep discount.But let me tell you one thing, buying any of those companies is a huge mistake.And the energy sector is just one of dozens that masquerade as excellent picks, but really could devastate your portfolio in a few months' time.
