Actually, VPI looks like an attractive bargain. I found the latest earnings report very favorable. Production and reserves are up, and the company is still profitable with the low oil and gas prices. When gas and oil prices recover (whenver that will be) VPI will soar.
In the meantime, the whole sector sucks, and I don't see it turning around tomorrow given the short sightedness of Wall Street.
Should I sell my now worthless holdings of VPI? Buy more? I haven't got a clue.
Good thing I owned gold and silver stocks, they have been up up up and away!!!
Merrill downgrade will continue to pressure VPI for next week or two. The stuff we post here means squat but they move the price. I doubt that VPI was profitable in December when all the Argentina turmoil occurred. With 25% of the assets in Argentina, and a higher portion of the "profits" I think VPI can be had for less. JMHO. All these downgrades now indicate that the analysts didn't factor in the huge Argentina exposure clearly stated in the footnotes. A man hears what he wants to hear and disregards the rest.