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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: The Ox who wrote (25593)7/13/1998 3:15:00 PM
From: jbe  Read Replies (2) of 95453
 
To All: One way of handling the situation --

I don't know about the rest of you, but I have a number of long-term holds in this sector (ESV, TDW). Thanks to the price decline, my total investment in them has shrunk to such an extent that on a day like this, a further price decline of 7-9% has hardly any impact on my over-all portfolio. What, after all, is a 10% decline in a $2,500 investment? Relative peanuts.

Companies like ESV and TDW are not about to go bankrupt and disappear. It does not make sense to sell them, at this point. Sooner or later (probably later), I expect to get at least some of my money back. In the meantime, I am not going to look at them any more. Who needs the aggravation? :-)

Shorter term holds, which have not declined so much in value, I think I will sell. Again, who needs the continued aggravation?

And I agree with Michael Happel about not loading up on more oil service stocks. That is likely to be more aggravating than anything else one could do.

jbe

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