LOL. "As rumor has it"? Sure guy. You must be in tight with the senior execs at Berkshire to hear this "rumor". That's why you're posting on a Yahoo blog. Buffet has 22.3M shares at an average price of $33.07 (low of $26.90, high of $33.09). It's a great time to buy SU. He didnt get to be worth $107B by making bad investments.
Sentiment: Strong Buy
Not really, there will be a talk between OPEC and Shale Cos, the price drop hurts all $70 is about right. The crisis in Greece will be over, the money printing business will continue. $50/barrel is the best
Well I really don't think oil will stay at these levels long. I guess time will tell . Im long here so i'll buy more the lower she drops .
What cave have you been living in? He bought in heavily in the last year or two, most recently in February of this year, I believe. His company BH is in the top 15 holders of Suncor. He has over 700 million dollars worth of this nose-diver, and rumor has it, he's regretting it--the old fart.
Build Keystone,let the bitumen flow to the USA refineries and the USA has a reliable source of oil for decades without having to station the USN 6th fleet off the coast of Canada!
Its supply and demand BUT the supply part is also political.The Saudis and Iran are rivals in the middle-east.The Saudis don't like competition from USA/Canada.The Saudis own USA politicians.Now that the Saudis are a max production they are DONE they played their trump card.
My own opinion...oil is traded on leverage so when market players take a summer vacation the few left move things in the most volatile way to shake other players. If they don't make money, they don't get paid...follow the money IMO. All to say if the motive is to get paid - were there is a will there is a way. Stay solvent and manage your risk.
Mainly because there is nothing set in stone...It could fly up as much as it can fly down in price. Manage your risk for both situations IMO...but my bias is for a bounce up off these levels over the next 3-6 months. If I can average down due to media over Greece, China, etc I will accept that outcome..
Best of luck in any event! There are always winners and losers. hope I am right.