Might be 'in the most hated bull market in energy stocks in U.S. history': Strategist

The Energy Select Sector SPDR Fund ETF (XLE) is up nearly 20 percent over the last year while oil prices (CL=F) are down about 27 percent over the same time period. Smead Capital Management CEO Cole Smead tells Yahoo Finance Live that oil "supply dwindling slowly" while demand is "creeping up." Smead explains why it's an imbalance he favors.