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

To: Fredman who wrote (964)	1/7/1999 9:30:00 AM
From: Bryan Steffen	Read Replies (1) \| Respond to of 4691

It sounds like you like the drillers, Oil Field services and the E&P guys, do you not have any appreciation for the Majors, especially XON for taking out MOB or RD. Even though XON paid pretty good for MOB, they are clean house when the current oil cycle turns around. They have added all these new assets, but don't really need the double layer of management and overhead to manage the new assets. It will take a year or two the mesh it all, but by then the down cycle should be over. I also like ENE (and it is my only energy holding right now), I like their innovation of creating new markets, especially in electricity traded, but was a little disappointed to hear they were selling EOG. Bry