Oil, commodities and industrials are the value stocks currently as measured by their Price/Earnings, Price/Book and Price/Sales ratios.
It is interesting to observe how the proverbial margin of safety based on durable competitive advantage to quote the legendary Warren Buffett works its magic-> today oil futures are down currently around 3.5% while large and mid sized oil companies' stocks are down only 1% to 2% at the most.
Apparently there is much institutional interest in oil, commodities and industrial stocks.
In 2006-2008 oil and commodities were considered growth stocks and they are the growth stocks of the day as the China lead world growth was forecasted to go on for a very long period.
Now, oil stocks have performed remarkably well from their nadir in 2020.
And if the West and Russia do not cut a temporary deal, inflation will continue to grow and oil and other commodities and stocks of the companies that produce them will go hire is my estimate.
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