Is Occidental Petroleum Ready for Turnaround?

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Sept. 26 (Bloomberg) -- USAA Investment Solutions Chief Investment Officer Bernie Williams discusses his investment strategy with Deirdre Bolton on Bloomberg Television's "In The Loop." (Source: Bloomberg)

Not that i think you're wrong, but i am just curious.

The u.s. on a relative basis looks expensive to the rest of the world.

A beneficiary of the flight to safety.

Emerging markets have had their fair share of problem's. you have had the commodity mining slowdown.

European slowdown and then margin wage inflation issues.

Lately it has been taper.

Do you want to come in with the emerging markets angle?

I have been looking at the action recently.

I am sure as bernie knows, a lot of naysayers.

One of the things that hurt emerging markets has been the expert a shim that the fed would begin tapering the stimulus.

As we saw yields move up, we saw the emerging markets move lower in terms of the emerging markets stocks.

This is a long-term chart.

We have not always seen an inverse relationship.

We have seen it if you go back to the beginning of quantitative easing.

Even though the fed is not tapering now, it will be tapering eventually.

One would assume that that would once again heard the emerging markets stocks.

You are taking a look at occidental petroleum, right?

Yes i am in terms of the struggles they have.

They saw it fall for the two years in a row.

It does have a potential catalyst.

No caps -- perhaps offloading in the middle east oil ventures.

There are concerns about that.

Analyst say it could be very difficult considering the unrest we have seen in the middle east.

Thank you.

What is your take away as far as petroleum and energy plays go?

I think they will be able to unload.

There are a number of initiatives they are taking to restructure the company.

That is to return capital to shareholders.

They are slowly deemphasizing the efforts there.

They are very shareholder friendly and have a good deed given -- dividend yield.

Cracks as far as where it fits into where you are giving advice, to what extent?

I do not think we will have an energy boom like we did in 2000. we are roughly market weight in picking stocks within the sector.

Ernie williams, joining us at us investment usaa investment company.

Or coming your way.

Duane stanford joining us to talk about the person behind the dangerously delicious caloric cinnabon.


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