Investor Danny Moses, who made a killing betting against mortgage-backed debt before the 2008 crash, revealed he is bullish on the unloved energy sector. The Moses Ventures founder pointed out that energy stocks’ weighting in the S & P 500 benchmark is only 3% right now, compared to their historical average of 7%. “I don’t see that going much lower … oil is a little bit disconnected from the value of these energy stocks,” Moses said Monday on CNBC’s ” Power Lunch .” “These energy stocks, the last four to five years, have gone through transformational M & A. Their balance sheets are in much better shape. No one’s going to tell them to drill baby drill when they don’t want to. It makes much more economic sense to own these stocks.” The S & P 500 energy sector has been underperforming the broader market with a 3% loss this year as crude prices declined amid OPEC+ supply increases and demand concerns. The U.S. West Texas Intermediate crude has dropped about 9% this year to roughly $65. Moses shot to fame thanks to Michael Lewis’ book ” The Big Short ” and the subsequent Oscar-winning movie of the same name. The investor highlighted two energy stocks he likes right now: Exxon Mobil and Diamondback Energy . “ExxonMobil, to me, cheap name, relatively. Its growth rate … pays a nice dividend, buys back stocks. Same with Diamondback,” he said.