I'm one who continues to add to positions in oil stocks.
Among the stocks I've bought in the past week are PBR and REP.
These stocks were mentioned Fri. night in BusinessWeek's Barker Portfolio column as potential values. (Not that I believe Mr. Barker has any expertise in discerning value among oil stocks. Nor do I have such expertise either, for that matter.)
businessweek.com
Also in the most recent Forbes, there's a write up about Wendell Perkins' (Johnson Family International Value) foreign stock picks. According to Forbes, Mr. Perkins still sees value in PBR (and CX, a stock several of us here own or have owned). Of PBR, Forbes says, "...the inherent risk in the Brazilian market is one reason that its shares sell for just 6 times estimated 2005 earnings, compared with ExxonMobil at 15." Also, quoting Mr. Perkins, "At some point we'll make the decision (for Latin America), much like we have in our Chinese holdings, that we've seen the bulk of the return and it's time to go elsewhere."
Anyway, fwiw. |
