Happy to keep on buying and take advantage of the price drop.
I bought some more to average down. Still in the red, however, don't think we'll be "not" needing fuel any time soon, and the share price will crepe back up.
Cyclical businesses always have their ups and downs,
Don't think anything has changed on the demand side. Has something fundamental made the business worth 25% less than 6 months ago?
Happy to keep on buying and take advantage of the price drop.
fundamentally the world is changing , oil is a dinosaur on the way out. look at exon mobil share price ( and all others in the field ) they are being priced for the reality of there death coming.
nzr is spending to just stay in business , there debt is exploding due to low cracks
fundamentally the world is changing , oil is a dinosaur on the way out. look at exon mobil share price ( and all others in the field ) they are being priced for the reality of there death coming.
nzr is spending to just stay in business , there debt is exploding due to low cracks
I feel like that view summaries nicely what is driving the share price down to good value.
While NZR has its own problems and it is hard dirty work refining crude. I don't see any major medium term changes in demand in NZ. I am happy to wait for the FY 19 announcement on Thursday to see what debt etc is doing.
Haven't looked at XOM but suspect I would much rather invest in it rather than Netflix, Tesla, Beyond meat of other money sinks.
Great time to deploy my cash pile on a few undervalued equities and then check on them in a few years
I can see fossil-fuelled cars being replaced, but there is no way big hauling trucks can work on electricity. There will have to be hydrogen fuel cells developed for them. It may come faster than I think, but diesel will be needed for a long time yet.
While I have a petrol-driven car it would be perverse to deny the need for a refinery. The Annual Report seems reasonably cheerful, but then they always do.
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Originally Posted by Justin
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