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

To: Michael Burry who wrote (5818)	1/21/1999 11:38:00 AM
From: Robert Douglas	Read Replies (2) \| Respond to of 78748

Bear Stearns recently recommended investors increase exposure to energy. They reported that the current weighting of the sector in the S & P 500 stands at 5.2% which is its low since the late 70s. Their oil analyst is projecting that oil will average $17 a barrel for 1999 and that earnings will rise sharply. Seventeen-dollar oil seems a bit optimistic but Bear Stearns has been pretty good in the past on calling the price of oil. Worldwide growth will surely pick up again and with it the demand for oil. Is the oil patch a good place to look for value? My experience in this area is limited to a few drilling companies. -Robert