News in the US overnight is that Warren Buffett (Berkshire Hathaway) piled into Occidental Petroleum stock this past week - buying in at a time he says the stock price is at a significant discount to its intrinsic value.
History shows this guy knows how to play the cycles.
Occidental has had a similar year to WDS - a victim of poor sentiment and low oil prices. WDS US listed stock up 3% in the US overnight - a knock on effect from the Buffet announcement most probably.
WDS has been hammered to the point it too is trading at well below intrinsic value imo. We might see a recognition of that in the next few months ….and then a further spike when the bumbling Albanese government gets kicked to the curb as a more sensible approach the energy transition is ushered in with a new government.
I’m a happy enough ‘wait and see’ hold at these levels.
WDS Price at posting:
$23.55 Sentiment: Hold Disclosure: Held
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