Fund Manager Picks Devon Energy As Favorite (DVN, SMA, UNM)

Mike Shinnick, portfolio manager with Wasatch-1st Source Long/Short Fund, said that his firm is employing a value-investing strategy. In an interview with CNBC, he said, “Those pundits who, in a sense, think that this is not a sustainable recovery and expect it to happen near-term, we think are missing the fact that there is enough stimulus and real demand in order to power this economy forward.” He also shared his stock picks with CNBC. In long-term, he likes Devon Energy DVN, Symmetry Medical SMA and Unum Group UNM. His short-term picks included commercial Real Estate Investment Trusts.