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Investing in oil
Oil is in upswing. OPEC seems determined to sustain high oil prices.
I have looked at Petrobras (Petroleo Braziliero). Big, old, stable company.
The option traders seem to expect much higher prices.
Anyhow, with a forward dividend yield of 19 % (too good to be true ?)
with a P/E smaller than 4 looks really attractive.
https://ca.finance.yahoo.com/quote/P....tsrc=fin-srch
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that looks about right but really cheap...how much debt do they have and what is their ESG story...(to sell it to the Greenies). I have BP, and I am looking at PTR and Sinopec....as i figure the Chinese don't really care about the carbon credit thing and the Evergrande stuff has been discounted.....so I buy the Chinese SIN stocks for a double helping.....I mean we still buy china's stuff and the Europeans still live in a cold place with need for oil.... I also have XOM.....those guys had oil spills and still suffer from that. But they are going to retool for hydrogen....buy platinum too....it is near cost of production as no-one will ever need it again duh....the burning smell of techno paper...and the metaverse may be a downdraft for a bit. the financial sector did not confirm the recent rally in the major indexes so equities may go down hard first....I think the first week of next year will be tough...if they make it that far...pass it on.
I heard the same stuff about gold in 1997-1999.....no body needs it.....I got a lot below 300.....silver was 5-7 I thought they were giving it away and they were....bags and bags... I have been on kitco from the early days.....that was a bear market.....
Last edited by ruthenium; 12-10-2021 at 07:13 AM.
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maybe the chinese will try
to get oil selltements in chinese CBDC......maybe the arabs will try to pull a crypto play....Kadafi tried to goto gold and they buried him.....there maybe some fighting words ..... but no fireworks...good for gold.
https://finance.yahoo.com/video/u-st...194446464.html
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capital controls are setting in
with the ban on some Chinese stocks in US listings......we shall see for now, BP and XOM...don't put too much emhasis on the P/E and Div...They do swing. if you do look for consistency over long timeframes and make sure they are a lower cost producer. Oil is going out of style.
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