Resident_Magician109
Resident_Magician109 t1_j274v76 wrote
Reply to comment by Ancient_Implement_30 in Oil is not my friend by Forsaken-Secret-7398
Short? Bold. I think it has more to run. But the days of big returns are over. I think we are going to repeat 1965-1980 so anything that generates cash flow and dividends is the place to be. I think oil is safe, but I also sold out.
Resident_Magician109 t1_j25jljr wrote
Reply to comment by SidharthaGalt in Oil is not my friend by Forsaken-Secret-7398
Yeah I'm up another 60% this year making my total gains over 2 years over 300%.
Resident_Magician109 t1_j2794ou wrote
Reply to comment by Ancient_Implement_30 in Oil is not my friend by Forsaken-Secret-7398
Remember, we were releasing 1 million bbl a day for much of this year and we weren't the only country releasing reserves. Additionally 1/7th of the world's population has been on lockdown on and off. Also, most projections have peak global demand somewhere around a decade from now with sustained consumption around today's level until 2050 or so.
I don't know what next year holds, but that was my thesis getting in back in 2020.
Right now my biggest holding is in ET which is currently paying roughly 8% in dividends and plans to raise dividends to over 10% current value by Q1.
I hope the price dips 30% next year. I wouldn't mind accumulating 15% additional shares.