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re: Are O&G stocks about to rise significantly?
Posted on 5/1/20 at 4:40 pm to Volt
Posted on 5/1/20 at 4:40 pm to Volt
quote:
Are O&G stocks about to rise significantly?
You buy whatever oil stocks you want to buy. I'll buy the same amount of VGT or QQQ (I'll even let you pick which one) and we can chat again in 5 years and I am willing to bet I'll come out significantly ahead of you.
People that live in Louisiana, Texas, Oklahoma etc. need to diversify and invest in stocks in the industries they don't already work in (O&G, Energy) to reduce risk. Don't bet against the Amazons and Apples and Microsofts of the world man. There is a big world out there beyond O&G, refineries and chemical plants.
This post was edited on 5/1/20 at 4:46 pm
2
Posted on 5/1/20 at 4:54 pm to rickgrimes
quote:
I'll buy the same amount of VGT
I’m right there with you on VGT. I bought quite a few shares during this downturn. In fact, I sold a chunk of my VTSAX shares in one of my IRA and one of my non-retirement accounts and used the funds for VGT.
I’m not looking at O&G as a long hold, but rather 12 months at the longest.
I did get in on a few midstream companies near the very bottom and was up around 150+% before today on them. I don’t know much, but I keep thinking this industry still has a lot of upside as far as a stock play.
Well, as long as the ones I’m in don’t fold.
Posted on 5/1/20 at 5:09 pm to rickgrimes
quote:
You buy whatever oil stocks you want to buy. I'll buy the same amount of VGT or QQQ (I'll even let you pick which one) and we can chat again in 5 years and I am willing to bet I'll come out significantly ahead of you.
I have 3 oil related holdings and don't live in any of those states nor work in O&G. Also own VGT, 4 different factor ETFs, multiple other segment or broad market ETFs or funds, and 19 individual stocks, plus RE and fixed income. I don't disagree with the assertion of don't double down if you work in O&G, but really depends on what additional investments one may have. Like the guy who kept posting RDS would never cut the dividend and yet it happened. As usual, when cheap buy backs are available, companies have no liquidity or are hoarding cash/near cash and makes former buybacks at much higher prices look pretty damn wasteful IMO.
Also don't think O&G entities are about to rise significantly this year, but price at the pump will start inching up which is a good thing, and many will then bitch about higher fuel cost regardless of what the cost of production, etc is. SA and Russia got what they wanted, + more.
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