Recognizing that the oil production won't last forever, I attempted to create a "Legacy Fund" holding back 20% of all our family royalties into an investment account. (Of course, it will probably max out at 0.0001of the fund). However, it was designed to make future generations have an appreciation of how fortunate they will have been through no effort on their part. So, in the fund I recommended PSX. My younger brother, an infinitely more astute investor than me, recommended MPC. To keep peace and harmony in the family, I actually bought both. So, who was the smarter? Obviously, not me! My younger brother actually knows a thing or two. Me? Not too much.
Years ago (decades) I started building a position in PSX. Long story. Only recently started a position in MPC. I still prefer PSX but can't say why. No recommendation.
Recognizing that the oil production won't last forever, I attempted to create a "Legacy Fund" holding back 20% of all our family royalties into an investment account. (Of course, it will probably max out at 0.0001of the fund). However, it was designed to make future generations have an appreciation of how fortunate they will have been through no effort on their part.
ReplyDeleteSo, in the fund I recommended PSX. My younger brother, an infinitely more astute investor than me, recommended MPC. To keep peace and harmony in the family, I actually bought both. So, who was the smarter? Obviously, not me!
My younger brother actually knows a thing or two. Me? Not too much.
Years ago (decades) I started building a position in PSX. Long story. Only recently started a position in MPC. I still prefer PSX but can't say why. No recommendation.
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