You've done some critical and important thinking, obviously..I agree with a prior poster who advised greater diversity. I happen to think the energy sector is one with good long term potential. Jim Rogers, never dull, in a recent interview, predicted that oil would rise to $200/barrel. PEO is a closed end energy fund with a widely diversified portfolio of oil and gas stocks; it usually is available at a discount to NAV and its expense ratio is moderate. So gives one diversity in an attractive sector all in one package.......just my 2 cents