The old saying "a rising tide lifts all ships" is also true when the tide goes out.
We could be in for a very serious time ahead, especially for oilers. During the GFC, Oil was at least holding up strong. I remember buying (actually, going all in eventually...) that had:
- A market cap of c$100m
- Cash in the bank of c$120m
- Generating cash of c$0.5m a day
Why wouldn't you buy it? That's the type of opportunities that were available at the time.
SXY, while a great company, will rise and fall with the tide. Warren Buffett always buys more stock than he sells every year....but he just buys what he thinks is better than average and over the long run outperforms the market. If you think SXY is better value than it's peers, then you should outperform the sector over the long term....
I just bought more OEL on Friday so i can't talk! Down 33% yesterday![]()
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