Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: jim_p who wrote (75824)	10/9/2000 10:27:31 AM
From: Think4Yourself	Read Replies (2) of 95453

"There are a lot of people that are beginning to believe that the gas cycle is ending with the exception of some price spikes this winter" Thanks for the info but I am even more skeptical than you. Are these the same people who have been making foolish hedges for the past year? Or maybe they are the ones who got us into this mess in the first place with their "beliefs"? Are they basing these beliefs on their experience from the past few warm winters? Or are they, more likely, basing their beliefs on the past two slightly higher than normal builds (which were mostly due to ideal build weather)? After reading hundreds of 10Q's, 10K's and "analysis" my opinion of the "industry experts" and "insiders" is that most are totally clueless about their own industry. This applies to the entire management chain, right through the CEO. There are only a handful of people who have come close to predicting and acting on what was going to happen this year. Bob Simpson, the CEO of Cross Timbers, is one. If he comes out in the con call and says the situation is changing I'll get nervous. Also don't think much of the analysts who suddenly became wildly bullish this year.

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