Investors need to think first, and not put money randomly into oil stocks.

This whole year has been one of rapid sentiment reversals. For three weeks investors think things are OK and then the next three weeks people think everything is bad.

The move up in crude oil price from $12 a barrel to nearly $31 a barrel has been really positive for oil stocks, ... The Fund that we manage has responded well to that. Every time oil prices fluctuate - retreating, and then moving back up --- that helps oil stocks.

What's important for investors to realize about the Dow is it's not just steel stocks and industrial-related stocks. There are growth stocks. There are financial, entertainment and industrial stocks. So when one sector isn't doing well, another sector may be doing well. And that's exactly what's propelling the Dow.

This gave the holder an annualized return of 17.1 percent. A randomly selected subset of S&P 500 stocks held for the same period would have yielded, in general, an annualized return of approximately 8 percent.

Investors you should buy a mix of both old and new economy stocks. I don't think you should stick all of your eggs in any one style basket these days. I would also spread my risk between small stocks and large stocks.