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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Thean who wrote (12566)2/23/1998 1:48:00 PM
From: Chuzzlewit  Read Replies (1) of 95453
 
Thean, I find your post almost incredible! This sector is a value play, pure and simple. Value plays are stocks that the market has underestimated because of its short-sightedness. While the fundamentals are excellent, this sector is not a growth industry because there is only a finite amount of oil. Virtually all of the companies in the sector have very strong cashflows which are expected to increase for the foreseeable future. Hence the value.

Therefore, the turn-around hinges on the perceptions of the marketplace toward the sector, not a change in the fundamentals of the sector. Nobody can predict when those perceptions will change. But I believe that patience will be amply rewarded.

Regards,

Paul
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