Amazing what brazilians can do. They can win 5 soccer world cups but lose 7-1 in his own stadium. They can invest billons in a #$%$ company like OGX and sell a jewel like PBR at 40 pct of book value. INCREDIBLE AH?
Market says NOW it worth only 40B. (6.08) ONLY 38% of book value.???. XOM trades 2 times book value and I am pretty sure their item "Property Plant and Equipment" of 245B on balance sheet does not reflect the reality. So witch one will you buy??. Obviously XOM because you want to sleep well. But you wont duplicate you money. Short term pain for longs will be reflected in their account value in the future.. My guess is PBR will be trading above 12 usd in less than 12 months even with the oil @ 45. So if you are long just stop watching the screen and go outside to do something productive..!! hahaa