The "oils" all did okay yesterday after an incredible week, but OXY has a particularly good day, Friday, the last trading day of the week, surging 17%, if I recall. I didn't think about asking "why?". I just figured it was one of those things.
Well, now we know. Yes, it was just one of those things, if one of those things is Warren Buffett.
Personally I don't "get" the story. Wasn't this all known? I don't understand how it all works but I have a pretty good idea what warrants are all about, and this seems it was simply pre-ordained a year or so ago, assuming OXY didn't go broke. With regard to the OXY warrants, see this post.
Weren't the warrants priced at $26? OXY closed at $56, up $8 yesterday. So, if you got all these warrants last year or whenever it was, you now bought $50-OXY at $26. As I said, I don't understand how it works, but I bet I'm not too far off the mark.
As for me, I just keep accumulating shares in great American companies.
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