Thomas Grimes on Networks, Utilities, Energy
At MoneyShow San Francisco, Thomas Grimes: We like essential service businesses. The key is highly capital intensive networks that have navigated regulatory fields, earn money, pay dividends. We started focusing on our utilities and energy space, which had a good run. We think the dividends in telecom are still fine. The cable stocks have done very well the last 5-6 years. The cable companies are diversified and very well managed. They can still do very well in that high-speed broadband connection even as cable subscribers decline. The key is focusing on energy companies that have a rock solid balance sheet, have been able to cut costs.