Locator: 44964INV.
Updates
June 19, 2023: Shell -- ESG and this crazy push for renewable energy by an oil company is coming to an end -- but for me, too little too late. COP was the first major to publicly state that it would stick with what it knows best (posted long ago). Today, from social media, Shell:
Meanwhile, COP: a much more investor-friendly dividend and no foreign taxes.
Original Post
The one chart that supports my view that it's time for some investors to pivot or at least look at oil differently. As Warren Buffett would say, know why you have something in your portfolio.
For the archives, for Sophia, and for the executor.
Personal trading.
I am gradually re-balancing my portfolio -- cutting my investments in oil E&P (cutting majors, upstream; keeping all midstream), ultimately cutting my exposure to fossil energy and moving to something else. That "something else" is yet to be determined.
The first step is to re-balance the majors.
The decision was made after Shell announced it was also changing course:
- back to an emphasis on production; and,
- back to an emphasis on shareholder returns.
I don't own any Shell and even with the 15% hike in future dividends announced by Shell, there are still better opportunities with US companies -- particularly when considering foreign tax issues.
I believe I own shares in five or six majors or "near-majors" (or what I would consider "majors" or "near-majors").
Monday the markets are closed but Tuesday (or thereabouts) I will sell shares in all of those majors except for one: COP. There may be an exception or two once I re-check tax consequences and/or current dividends vs original investment, but those exceptions will be trivial.
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read here.
All my posts are done quickly:
there will be content and typographical errors. If anything on any of
my posts is important to you, go to the source. If/when I find
typographical / content errors, I will correct them.
Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.
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What A Joke
The graphic without my doodles:
The graphic with my doodles, down arrows not followed by recession:
The graphic with my doodles, up arrows followed by recession:
Up arrows followed by a recession.
Down arrows followed by a recession.
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