6/9/10

Countdown begins to when CNBC tells us that BP stock is a 'real bargain'

"It's only natural... in a period of transition for the more timid element to run for cover."

- Sidney J. Mussburger, Hudsucker Industries
Inscribed by Jason at 2:58 PM
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3 comments:

  1. Bill10/6/10 09:34

    I don't watch CNBC, but isn't BP already a bargain? Despite a little bounce this morning the share price is under half of the 52-week high, and BP has lost $95 billion in market cap since April. If I was already long in BP I'd have to think seriously about averaging down. If I had a few bills laying around and were thinking about diversifying into the energy sector I'd have to think about BP.

    Obviously the future of BP is as murky as the Gulf of Mexico, but BP is still the largest supplier of fuel and petrochemicals to the US Department of Defense and has enormous crude oil reserves. BP has raked in profits of $25 billion in 2008 and $14 billion in 2009. I'd bet that BP comes out of this in 2-3 years more or less intact and with a shiny new logo.

    ReplyDelete
  2. Jason10/6/10 14:24

    So, your investment advice is: "Buy BP?"

    ReplyDelete
  3. Bill10/6/10 22:55

    This comment has been removed by the author.

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