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Gold/Mining/Energy : VLO: Valero Energy Corp.
VLO 178.74+0.7%10:46 AM EST

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To: Paul Senior who wrote (51)11/5/2005 7:05:36 PM
From: Wyätt Gwyön  Read Replies (1) of 299
 
Paul, i agree, i was not implying that COP is anything but cheap--what can you say about a 6x PE. i just brought it up because i thought the guy's comments about VLO being "expensive" at the current quote were illustrative of a general perception on the street--a perception that i believe will fade over the coming year (i also believed it a year ago, when Prudential's antitout was targeting a share price at which VLO would now be trading at 1x to 1.5x PE).

also, i would say that if one is going to take on the risk of investing in FSU, etc. (as COP does) there may be better upside in pure plays like Gazprom, which trades at a huge discount to Western megacaps.
mcdep.com
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