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Strategies & Market Trends : Buffettology

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To: Fredman who wrote (592)	11/23/1998 10:21:00 AM
From: Robert Douglas	Read Replies (1) of 4691

Gee, i wonder if WEB would be the slightest bit interested in SLB ? I know probably not because he cannot predict growth rate (because he cannot predict Oil futures), but it is THE leader in the industry, no question about it. I don't know if Buffett is interested in Schlumberger but I sure am, having recently picked up a position in the stock. As you state, it is clearly the leader in its business, in fact, in many ways it is the oil field service business. Is this a difficult concept to understand? Will the world we know always need to drill for oil and maintain producing wells? I believe so. Certainly if Buffett can buy MCD because of the worldwide "demand for fat", he recognizes the worldwide demand for energy. As you state, predicting the future of oil prices will certainly determine the short term performance of the stock. This however is a distraction from the true value of the business which I would love to see debated on this board. I for one think the stock isn't "50-cents-on-the-dollar cheap" but have been willing to pay a good price for what I consider to be a great business. -Robert

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