I purchased a half sized position in this oil company. It’s a perfect fit for me; I’ve owned it before (during the Gulf Oil Spill), I’m familiar with their operations, I love their management, they have been expanding consistently, finding greater quantities of reserves, and they correlate with the price of oil, so their presence on my books sort of dampens the big, nasty oil short that – as of now – is nearing break even from 2011.
I’m sitting on about a 10% margin position. Looking to buy into silver next, but not if it can’t break through $27.
If you enjoy the content at iBankCoin, please follow us on Twitter
What are your thoughts on OXY? They have a great balance sheet and a decent yield.
Pass, for the moment. I already know a lot about APC. I don’t have time to read up on OXY.
That being said, I’m still bearish on oil and oil demand. My purchasing an oil company almost acts as a hedge of my short position.
finally seeing some stocks for the first time in weeks. there has been some MAJOR damage…
i like apc here too. but im feeling more blood is on the way…
Hope you’re right. SCO is at my target range; part of me thinks I should sell it off today. But ERY and TVIX are way low.
Anything in particularly you’re looking at buying?
Not really. long F since like 11.3 and i like whats going on with the co, but the stock doesnt trade properly…
also like PM/MO but i don’t know how much more upside is left in either of those. more of a divvy play and churn sideways idea. certain retail like COST i feel similarly about…
like the refiners across the board but big money still doesnt.
i think mcd is a screaming buy, just not sure at what price… while overseas, MCD pretty packed. room to grow still… unreal. KO similar. And PEP too, although coke is beating them strongly in asia.
love ur ideas on the REITs also. Generally like em across the board.
And weirdly I like a lot of the financials. MS, GS, C. They’re too cheap… but again, not trying to get a hand chopped off.
When I do buy something that’s not just a trade, it’ll be something like APC… a top industry player getting crushed…
Any thoughts on this trial? http://www.bloomberg.com/news/print/2012-05-15/anadarko-was-part-of-25-billion-scheme-u-s-says.html
I think it’s bullshit and the EPA is run by idiots with little to no chance of winning.
If the business was spun off, it had to have been approved by a half dozen number of outlets along the way. APC is publicly owned, after all.
How do they intend to prove that the TROX spinoff was intentionally done? More importantly, APC could not have known the spunoff company was going to fail.
And damn, while we’re on the subject, how many companies today (favored by the same people that are pressing this lawsuit I would add) could be subject to lawsuits if this suit sets a precident? I can think of dozens of companies (such as GM) that would be in serious trouble if spinning off bad assets and liabilities like this were subject to recourse.
I mean, come on! GM created a shell corporation, off loaded all their liabilities, then just recently went to the extreme of claiming they can’t be liable for cars produced before the bankruptcy!
Don’t even get me started on the banks, or on these quassi-private bullshit companies and the crap they pull.
And plenty of these companies have tight ties with environmentalist groups, as much as the EPA would deny it.
At any rate, this lawsuit isn’t going anywhere fast. $25 billion is a big bill; it’ll be tied up in court for at least 15 years.
Thanks.