NEW YORK (TheStreet) -- Despite the economic woes plaguing the Europe economy, TheStreet TV's Jack Mohr is finding investment opportunities amid the selloff.
In his survey of the top five European picks, Mohr put Bank of Ireland (IRE) as number five and Transocean (RIG) as number four.
For Mohr's third pick: steel titan ArcelorMittal (MT) , which is down nearly 39% in 2014. The company is the world's largest steel producer, with almost 10% of the global market share.
ArcelorMittal MT data by YCharts While the company faces cyclical risk, fluctuating raw material costs and rising competition, it has the advantage of scale, vertical integration and "excellent management" to mitigate those risks, Mohr said. CEO Lakshmi Mittal founded the company in 1976, making him one of the most capable leaders in the industry, Mohr said. He also controls 40% the company, so there's plenty of incentive for him to align his interests with shareholders. The company has already found a way to reduce its annual costs by $1.5 billion and plans to reduce those costs by another $1.5 billion by the end of 2015. This will also boost the company's margins, Mohr reasoned. For these reasons, Mohr said, ArcelorMittal is a "beleaguered European stock that's poised for a major bounce back in 2015." Must Read: U.S. Steel's Turnaround Could Get Scrapped in a Down Market -- Written by Bret Kenwell Follow @BretKenwell
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