I beat you on this stock, Warren Buffett!
Posted by Frugal on August 28th, 2006
Warren Buffet started investing in ConocoPhillips in the fourth quarter of 2005. But I beat Warren Buffet by fully 1 year on his purchase on this stock, or almost 32% gain (if I use $60 for end of 2005). Click on the image to see a bigger picture from my Scottrade account record.
I just saw the recommendation from DailyWealth again on this stock. It has a very good studies on COP. You can take a look. The article title is “Warren Buffet’s Favorite Energy Hedge Fund”.
Obviously, Warren Buffet is in this stock for the long term. So am I. I bought it in 2004, and just left it there. This year is a year of energy bull on hold, so there was not much return on COP this year. Next year, we shall see. It’s time for anyone who is not onboard to get onboard I believe. I don’t believe it’s too late. And Warren Buffet certainly believed that it’s not too late. But please do your due diligence before investing in anything.
P.S. Lots of readings & links for any of the readers today from PF carnival and My Digg of the Week, or links in this post. I won’t write more for today.
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August 28th, 2006 at 7:20 am
So when you say long term how many years are you talking? 5+ years?
If I am going to go buffet style and look at the ROE it looks really well at 25.77%.. Very impressive there
They don’t have as much cash as a lot of other companies in other industries have..
soo the forward p/e is 6.79 Is that good, decent? What you wnat to look for there?
I know I shouldn’t ask you for stock “tips” I just want your opinion on why you think this stock is a hold for the long term..
August 28th, 2006 at 7:22 am
Also, if I do invest in COP (which it looks really good) I belive I am going to wait until after september 5… Or maybe after the 20th to see what the feds do… If I have a feeling they are going to raise then I will hold off on buying afterwards.. If I get a feeling they are going to hold.. I will buy ahead of time..
August 28th, 2006 at 7:48 am
I can’t find the archived link for COP at DailyWealth now. If I find it, I will update the link.
Garrett, I can’t make any decisions for you. You will need to make your own, and live with it. As I said, I will always disclose my moves, and you can decide what to do. But I always make small moves, so even when I am wrong, I won’t be hurt that much.
You need to do your own research to decide why you want to invest. I seldom write about individual companies/stocks. For energy sector, you can read about Peak Oil on my site by Google Search on the right column. You can compare COP to many big companies like XOM, BP, RD, T, etc. and decide for yourself. You can also read about investing in natural resources on my site for any ETFs which I usually like better than individual stocks.
By the way, P/E of 7 is the about the same as paying interests at 1/7 = 14.3%. You can tell me getting paid at 14.3% is good or not. Everything is relative however.
Best luck.
August 28th, 2006 at 10:09 am
Sorry for the dysfunctional links.
I fixed the link on fourth quarter 2005.
And once DailyWealth archived their article on August 25, 2006, you should be able to read about COP.
August 29th, 2006 at 5:34 pm
I’ve fixed the DailyWealth link after they’ve archived the article. You can read them now for the details on COP.
September 5th, 2006 at 5:14 pm
38th Edition of the Carnival of Investing…
Welcome to the 38th edition of the Carnival of Investing. I am your host, Pragmatic Finance and I will give you the run down on what went on in the investment blogosphere this past week.
I had to chuckle when My 1st Million at 33 said I beat you on th…