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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: accountclosed who wrote (38286)	12/5/1998 3:29:00 PM
From: Ilaine	Read Replies (3) \| Respond to of 132070

Antoine, what difference does it make what I think something is worth if the market doesn't agree with me? Maybe I am naive, in fact I will humbly admit that I am naive, but it appears to me, within certain broad parameters, that the market acts rationally. Oilfield stocks are down because oil is down because the Russians are selling one of the few things of value they have. Schlumberger, Halliburton, et al. are great companies, but they are probably not going to be making much money in the short run. I would have said buy them now, and hold on, but my mother, who used to sell shares in oil wells, reminded me that $14/barrel was the break-even point back in the 80's. So, who can say when a share of Schlumberger will increase to make it worth my while? Burke, being in Houston, has access to more info on oil patch stocks than most, and is certainly smarter and savvier than most, and he is buying now, but I intend to do my own due diligence. Now, I am really going to have that chai. CobaltBlue