Regarding the chasm that separates your opinion from the gurus---it sure is fascinating, but I think it exists because of herd mentality and a need for instant gratification, as I believe we have discussed before. The stock market is a media event, just like a shooting in Arkansas or skirmish in the Middle East. The difference is that the market is not always exciting on a daily basis so has to be hyped (like CNBC promising some three hour special as soon as the DOW closes above 9000). These gurus and talking heads have to create controversy to keep things interesting so they learn a little about a lot of things so that they can spout the lines. The Pissant is a great example. He doesn't know this sector from his assets, but likes to spout certain phrases to suggest that he does, while he's slamming the sector for his masters.
Haven't you noticed how Mark Haines, Joe Kernen and all those CNBC types have memorized the questions re: oil patch? Over and over again, like a mantra. That's the herd mentality. The gurus, fund managers, etc. who answer the questions, give the same answers over and over again. If they recommend the sector, the CNBC-er's ask the stock, "that can't be true 'cause.." questions. If the guru says to avoid the sector, they question whether it's undervalued and should therefore be considered.
The mantra for some time has been oil prices are dropping so much that all exploration projects will cease entirely, be cut back and/or day rates shaved to the bone. If you say it enough times, it becomes true for many people, because they've heard and/or read it so many times.
As to the money manager types, they need to justify their gazillion dollar salaries so don't always have the patience or time horizon needed when a sector is out of favor. They need more instant gratification.
Didn't mean to ramble on, but you get my drift. I figure everyone who spouts an opinion has an agenda and therefore anything any guru, analyst, whatever says should be taken with beau coup grains of salt!
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