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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (15803)	11/15/2002 10:47:05 PM
From: Paul Senior	Respond to of 78523

Spekulatius, I am diversifying among the bigger players also with a recent very small buy of Chevron (CVX). BP is the more powerful company imo. May be the better bet too long term. I'm a little partial to CVX as in another life I was a consultant to one of their divisions, and they treated me well. (Hope I did the same for them.) Looks like stock performance of both companies is correlated: finance.yahoo.com

To: Spekulatius who wrote (15803)	11/22/2002 4:02:04 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78523

Spekulatius: I'll diversify further in oil company stocks by adding a very little PTR here: yahoo.marketguide.com Aside: I find it interesting that this stock is owned by Wellington Management whose best known fund manager was John Neff. Now what catches my attention is that PTR actually meets Mr. Neff's once famous (well, I go back a while and I remember it) Rule of Sixes. That was: earnings growth rate + dividend yield summed and divided by the p/e ratio should be at least 2. And that was when interest rates were near or at double digits. So that number 2 must be much higher now for Mr. Neff. Anyway, fwiw, the numbers (from Multex) for PTR seem to be roughly (8+6)/6 =2.3. Of course, PTR itself, being a Chinese corporation with all the good and bad that that implies, has to be judged too rather than just plopping its numbers into an equation.