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Strategies & Market Trends : Value Investing

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To: TimbaBear who wrote (16277)	1/26/2003 11:07:46 AM
From: Dale Baker	Read Replies (1) of 78744

Just in general, oil service stocks are not the best way to play the overall move in oil and gas prices. The integrated oils are the safest (XOM, RD, etc.) followed by the exploration companies who benefit from higher prices directly, then drillers who work for the bigger fish and eventually the oil service crowd that does stuff for the drillers and EPs. Lately these companies have not moved up in sync with the oil and gas prices. Energy is not a simple sector to invest in for all these reasons (subsectors, commodity price swings, world headlines pushing prices around, etc.) Oil is tricky now because perceptions about price drops after a war in Iraq are strong. That's probably why I haven't talked much about my energy portfolio here even though it's a quarter of my current holdings. It's hard to make traditional value calls in the sector.

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