It’s worth listening to the Investor’s Podcast episode with Kyle Bass from yesterday: he talks some real sense about fossil fuel usage from 50 min onwards (also good stuff on China/property/Alibaba) for those interested around 40 minutes)
Do I like fossil fuel usage? No, but in the real world it will require tapering off. We can’t turn off fossil fuel usage tomorrow and replace it with 100% renewables tomorrow. Bass’ point is that we have underinvested in O&G production, which is what will drive prices up in the next few years
Do I like Woodside? Not really, but it was cheap when I bought it, and will still generate good cashflow for the foreseeable future. If Kyle Bass is right, it will generate excellent CF going forward. If he is wrong, holders should do ok at worst
I think I need to take some of my own advice here, but holders are probably best served not to look at the WPL hourly/daily/weekly whatever. Clearly O&G is not in vogue at the moment, and it may never re-rate, but WPL is going to generate good CF, and supposedly discounting that is how we should be valuing companies right?
Final point, if Kyle Bass is right, thanks for the extra O&G assets BHP!
Good luck to all holders
It’s worth listening to the Investor’s Podcast episode with Kyle...
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$27.52 |
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| Open | High | Low | Value | Volume |
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