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March 16, 2007


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Yesterday I added my positions to oil & gas sector. It is true that the market hasn't gained much during last 1.5 years. But what I think is that market is expecting the recession and it is already in the prices. If you look at oil&gas valuations, they are rather low. Drillers and services especially. I think big oil and national oil companies are spending money regardless if there is recession in US or not.

But I'm am b&h -investor. I don't care so much stock prices. It is company cash flows that I'm interested in.


Still holding HEC myself. Seems like China should be able to pick up the slack in US demand for oil. But we'll see.

Michael Guzzo

Hey Big Mike..

I thought you almost forgot about your blog.

Never complain about paying capital gains tax. It's a lot better than taking a deduction for your losses. :-)



That might have been a bad idea depeneding on what you owned. A good write up about all the oil sector can be found at the Daily Reckoning.

This will go into to detail for you whether or not you should buy or sell your stocks, and how you can gain profit from them if they are growing.


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About Big Mike

  • Big Mike has a BS in Economics from the Wharton School of the University of Pennsylvania, an MBA and JD from Arizona State University. He once worked as a stockbroker for six weeks.

    His politics blog is Half Sigma.

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