High on Energy, Wary of Inflation

Stephen Leeb of Leeb Capital Management delivers a cautious outlook on stocks — and reveals his best picks for long-term investors
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Q: How much of a factor is oil in the market these days?
A: I think oil is probably the most important factor in the market. Let me put it this way: For oil to decline to $25 a barrel, I believe it would lead to a massive bull market. On the other hand, were oil to rise — and unfortunately I believe this is the more likely scenario — to $60 a barrel, it would make the going extremely tough.

BusinessWeek