David Tepper Says Oil Stocks Are Cheapest Because People Hate Them
Billionaire David Tepper says he’s an oil stock bull right now.
Tepper, who was participating in the Robin Hood Investors Conference Wednesday, said with interest rates this low, equities are the place to be -- particularly FAANG stocks, according to people who heard his comments. The interview was pre-recorded for the event, which was held virtually this year.
Oil stocks are the cheapest equities by every measure because people hate them, said Tepper, who runs hedge fund Appaloosa. Tepper said he’s long many of them.
Tepper mentioned driller Occidental Petroleum Corp. as being incredibly cheap, with the potential to climb to $45 or $50 a share from its current price of about $29. He added the day Exxon Mobil Corp. added activist investors to its board was the time to buy oil stocks -- because it signaled drilling will eventually decrease over time, and with it supply.
" kahhoeng dickeyme, you must be joking! Go and trace demand for crude oil for the past 50 years... Even if hydrogen fuel cell were to be a success, you would still need HYDROGEN, and where is it going to come from? Electrolysis using what electric energy? Or natural gas, CH4?"
Electric energy can be sourced from solar, wind or even batteries, not necessarily from oil.
Additional Listing Announcement /Subdivision of Shares
HIBISCUS PETROLEUM BERHAD
1. Details of Corporate Proposal
Involve issuance of new type/class of securities ? No Types of corporate proposal Conversion of Preference Shares Details of corporate proposal Conversion of Islamic Convertible Redeemable Preference Shares to Ordinary Shares No. of shares issued under this corporate proposal 3,715,416 Issue price per share ($$) Malaysian Ringgit (MYR) 0.4800 Par Value($$) (if applicable) Malaysian Ringgit (MYR)
DickyMe, go and check how much renewable energy as a ratio of world energy supply and you will be surprised! Renewable energy is still at its infancy, not to mention these "renewable" energy are not clean either and will end up polluting the earth.
I am not doubting the potential of renewable, but fossil fuel will stay. Unless renewable is abundant and cheap relative to fossil fuel, fossil fuel will not be buried. The source of carbon emission is NOT fossil fuel, it's human greed.
Automobiles were once oil guzzlers, now rapidly changing to electric powered vehicles which are already on the road. Yes, cost is an issue but science will find a solution soon. China is also a player in electric powered products. More and more funds are flowing into research for renewable energy and they mean business.
DickeyMe, actually, oil guzzlers have become far more efficient than they were first rolled out. Human desire for better life pushes up more vehicles that consume more than what improved energy efficiency saves. Will electric vehicle become mainstay, well, its hard to tell. One can only say the chance is high. Despite the development of EV, we need to understand that EV need energy sources, batteries in EV are merely energy storage! When it comes to energy sources, only nuclear and hydro can be developed in big scale now, but they're often omitted by developed countries due to safety and environmental concerns. What comes next are wind and solar, but these sources are not stable due to nature. Also, please bear in mind, battery is NOT renewable, its just a mean of storage
Be careful . A lot of promoters at this counter. when they r promoting , in actual fact they are disposing their shares ....sooner or later the share price will drop....be very careful ..
Some comparison on the SEVERE mispricing of Hibiscus Petroleum, by comparing it to a comparable that is very similar in its business operations.
Enquest Plc 21.75 GBX +9.97 (84.63%)year to date
Hibiscus Petroleum Bhd 0.72 MYR +0.14 (22.88%)year to date
Oil price ended at USD50 on 31 December 2020 and has since gained 50% to USD75 as of today.
So oil price has gained 50%, Enquest has gained 84.63% (obviously explaining that a dollar increase in oil price has a multiplier effect on share price) but Hibiscus is up 22.88%. Doesn't make sense, does it? This gap's closing in the coming weeks and months, for sure.
Introducing MY's First IPO Fund for Sophisticated Investors!
MQ Chat
New Update. Discover investment communities that resonate with your ideas
MQ Trader
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
MQ Trader 547 views | 2 d ago
0:17
New IPO: An enterprise IT solutions provider that provides implementation services, maintenance, support and professional services, Vetece Holdings Bhd aims to list on the Ace Market!
MQ Trader 602 views | 6 d ago
0:17
New IPO: A manufacturing and trading of biomass fuel products, particularly PKS and wood pellets company, Elridge Energy Holdings Bhd aims to list on the Ace Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ojibala
36 posts
Posted by ojibala > 2021-06-17 10:21 | Report Abuse
IHO no push before it can break and close above 0.75. It is sitting at resistance level (descending trendline, coincide with 50% fib)
How u arrive at 1.5/1.9 TP? @Godofgambler