critical information for the us trading day the standard advice from wall street these days stay defensive be wary and retail investors seem to be heeding that rejecting stocks and bonds for moneymarket funds as a banking crisis also simmers but our call of the day is tearing a page out of warren buffett old playbook  being greedy when others are fearful you should be more excited than depressed because if theres tumult there will be winners and losers out of this says cole smead chief executive officer and portfolio manager at smead capital management in an interview with marketwatch in madrid investors err in trying to gauge the future via the stock market rather than view it as a vehicle to serve them he says because its often your opportunity cost that kills you  what you could have done with money otherwise what is being availed to investors right now is capital intensive businesses that have some form of cyclicality and because everyones been so afraid that the fed would cripple the economy and cause big economic problemsyou can buy wellpriced business that arent the businesses that people liked in the last decade said smead energy is an example of this and a sector smead said the firm hated from 2011 until early 2019 until it realized energy supplies were just getting tighter the sector has killed it from a one and twoyear perspective but still only comprises 45 of the sp 500  he notes we would not be shocked if you could wake up in the teens looking over the next decade why well go back to the 1970s when the inflation zeitgeist became supreme in the minds of investors places like energy did incredibly well places like singlefamily housing made money in real terms he said what didnt do well then was bonds or the stock market in general  he thinks were halfway through a bear market its a similar setup now and investors would be taking advantage of a similar situation now if they realized inflation is sticky he said so the energy business looks incredible to us i mean in our us portfolio we own 23 energy and were just playing a different game he said among the stocks the firm owns are occidental petroleum oxy conocophillips cop and chevron cvx in the smead value fund  in its international value fund  it also holds canadian companies meg energy and cenovus energy  another area he likes  classic american shopping malls which didnt get killed off as expected by the pandemic though new ones wont likely be built soon as that is still very psychologically damaging to investors and for companies with great mall space assets that means no new competition for maybe five years he says secondly the labor that builds those kinds of buildings is getting more and more expensive so lets say you just have five years worth its probably going to cost you 25 more in five years to build those same assets today which means the cost of replacement is growing and growing and growing he said to play this the firm owns simon property spg and macerich mac in its smead value fund  he also likes home builders which were weighed by fears of a hard hit by fed tightening something that hasnt happened because housing supply is way too tight a couple of stocks owned in this space are nvr nvr a home builder that doesnt own any land and dr horton dhi which only owns 25 of its land so were moving away from the idea that home builders have to be land developers which means think of the pullback in housing well does it affect the balance sheet of the business no because they dont own the land he said theyre just putting the houses there theyre just building the house which means the return on equity through the cycle is higher there theyre not taking the balance sheet risks through the cycle which means people should be paying higher multiples read11 stocks in the sp 500 expected to form an exclusive growth club for investors stock futures are slightly lower bond yields are a bit higher and the dollar is weaker as well oil prices are up some for more market updates plus actionable trade ideas for stocks options and crypto subscribe to marketdiem by investors business daily alibaba shares 9988hk are climbing on a report the chinese internet giant will restructure into six independently run entities walgreens boots alliance stock wba is up after the health care and drugstore chains profit and sales beat expectations the value of secondhand tesla tsla cars has collapsed since elon musks electriccar maker started dropping prices over the last few months federal reserve vice chairman for supervision michael barr said the central bank raised concerns over svb as far back as 2011 hell appear alongside fdic chairman martin gruenberg and treasury undersecretary nellie liang on capitol hill to face further questions over the recent banking crisis at 10 am advance trade in goods retail inventories and wholesale inventories are due at 830 am followed by the sp caseshiller and federal housing finance agency house price indexes at 9 am then consumer confidence at 10 am commercial real estate which some expect will be the next shoe to drop may not turn into a financial disaster says economist best of the web lyfts new ceo tells marketwatch hes fighting to get people out and about indian firm developed the holy grail of cancer treatment a blood test that predicts tumors before they are formed why investors continue to question the charles schwab empire amid a banking crisis the sp 500 is stuck between a support sandwich according to topdown charts callum thomas who provides this chart as a status check the sp500 closed up on the week  above its 200day moving average above 3900 and above that fabled downtrend line but it also closed below its 50day moving average below 4000 and below its apparent shortterm uptrend line so its a case of being sandwiched between various support and resistance heuristics as the rangetrade stalemate continues he says these were the topsearched tickers on marketwatch as of 6 am when fathering 550 kids is probably enough need to know starts early and is updated until the opening bell but sign up here to get it delivered once to your email box the emailed version will be sent out at about 730 am eastern listen to the best new ideas in money podcast with marketwatch reporter charles passy and economist stephanie kelton this content was created by marketwatch which is operated by dow jones  co marketwatch is published independently from dow jones newswires and the wall street journal