Occidental bonds have right mix of high rate and growth potential
Brian Dress, director of research at Left Brain Investment Research, explains the firm's growth-oriented investment strategy extends to high-yield bonds and why that puts Occidental Petroleum's debt into the market's sweet spot now. Coming off the purchase of Anadarko Petroleum at the worst possible time for the oil business, Occidental has been paying down debt, has great underlying growth prospects as energy businesses recover and its bonds have moved closer to investment-grade level, giving them possible upside over the next few years beyond their high rates.