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re: Oil prices and stock market
Posted on 12/15/14 at 10:26 pm to lsugradman
Posted on 12/15/14 at 10:26 pm to lsugradman
quote:
I see Petrobras sliding another 30-50% and then im jumping in
From Bloomberg:
"In neighboring Brazil, benchmark bonds of oil producer Petrobras, the largest international borrower in the developing world over the past five years, plunged to a record low after it delayed its third-quarter financial results for a second time. The company is investigating new statements from witnesses in what has become Brazil’s largest-ever money laundering and corruption scandal as a rout in stocks and bonds spreads to almost every major Brazilian firm that has business with the state-run company."
1
Posted on 12/15/14 at 10:29 pm to bayoubengals88
Oh yeah I know. They have some serious house cleaning to do there. Doesn't change the fact that they have made some huge discoveries and pretty much have a stranglehold on the best oil prospects in an immature and seemingly prolific basin.
Posted on 12/15/14 at 10:36 pm to lsugradman
Noted. Now I just need about 100k to pick 4 or 5 in big oil.
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