I have a confession - I am absolutely pro renewables ......but...

I have a confession - I am absolutely pro renewables ......but having read and researched widely I can see that from a worldwide perspective the shift to renewables is going to be a very long and drawn out process .....with all sorts of financial, technological and political obstacles in the way.

So, at best, there will be decades of transition and during those decades oil and gas will still be absolutely crucial commodities to keep all of us westerners continuing our energy hungry lives ....not to mention developing countries and their energy needs.

So although I’m pro renewables (and as others have said - this makes WPL a dirty secret in my portfolio) WPL isn’t going anywhere and will have shareholders for decades yet......so when they’re so undervalued the investor in me tells me I need to be on board....and with the shares changing hands at half the price they will be in a few years time I asked myself yesterday what I’m waiting for.

So yesterday I decided to put my money where my posts are and pulled the trigger to increase my WPL shareholding by 50%.....even though the stock price is a fair way off the lows of last week.

Now I know there’s a real chance there will be further dips and this might not be great timing short-term - but the punt I’m taking is that the $16.80 from the previous Friday was indeed the bottom and we are now in the early stages of a steady (if a little bumpy) recovery in the WPL stock price. And in any case when I looked around the market, across all sectors, I couldn’t see a more undervalued big cap stock right now than WPL.

So I guess my dirty little secret has now become a rather big and filthy one !

As a well known financial advisor in the mass media says .....tread your own path