Global Santa Fe (GSF) (formerly Global Marine) Message Board

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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine)

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To: bobgh who wrote (1250)	2/25/1999 10:00:00 AM
From: Robert Douglas	Read Replies (1) of 2282

Thanks for the “Individual Investor” article. Very interesting, here are the most revealing comments from the article, IMO: No matter how well-run these companies are or how attractively valued, the price of a barrel of oil is what they live and die by and that price doesn't look to be rising anytime soon. near-term, there is no catalyst for upside in sight. With oil at current levels, this isn't going to happen anytime soon. But it's equally hard to see a rapid rebound of prices from current levels because of the extent of (stockpiles).' Our advice is to stay away until there's better forward visibility because as Joseph Ancona, an oil analyst at Burns, Gusts & Co., so eloquently pointed out 'Gloom, doom and despair is no longer an exaggeration.' As a contrarian, this is the stuff you love to see. Not only are things bad but they aren't going to get better for a long time. Of course there is still room for the ultimate buying opportunity which comes when the pundits say, “Things are bad but they are will get much worse”. -Robert

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