Msg. 03641 of 47202 (This msg. is a reply to
03638 by
capt_nemo)
Jump:
Wow. $27 per barrel. Will we see $20? $15?
When something like this happens, it just obviates to me how ARTIFICIAL these prices are. Oil was $100/barrel a few short months ago. Now it's $27. Did oil suddenly become more plentiful? Nope. In fact, it's less plentiful with every passing day.
I think it's a certainty that just as it was too pricey at $100/barrel, oil is now too cheap. It would be stupid not to buy shares in the bigger oil companies... the ones that aren't in any real danger... but investors had better prepare themselves for what may be a long, painful ride.
You know. Like what I've just done with gold. Fortunately, the pain doesn't last forever. Then comes the fun part.
The company I'm most familiar with is probably the most oversold: Royal Dutch Shell. RDS-A. It was in the $50s when my sister first started me asking what I thought about it a few months ago. She loved it because of its dividends. Fortunately, I was able to find some reasons why it probably carried more risk than she realized and convince her to wait. Today it's $41.74. But with EPS of less than 1, one has to wonder how much cheaper it will go. (By way of comparison, Exxon-Mobile his $77.80 right now and has an EPS of nearly 4.)
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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