August 5, 2021

9 thoughts on “Dos & Don’ts during Oil Crisis!

  1. Rolf,

    It's always interesting to compare what someone OUTSIDE the industry wrote about Keppel and Sembawang versus someone INSIDE the industry 😉

    When Warren Buffet made his billion dollar mistake in buying ConocoPhillips when the oil price was near its peak in 2008, he admitted it.

    Instead of averaging down and hoping oil prices will rebound, Warren just liquidated his billion dollar mistake and took his lumps of coal like a real investor.

    When the reasons/theses why you get into a stock are no longer valid, what has our entry price got to do with anything?

    1. Hi Jared,

      First of all, happy monkey year.

      Guess it will take awhile for the industry, but it is a good test of strength for companies and individual.

      Even T Boone Pickens has sold all his oil holdings and wait for a better time to enter again.

  2. Ha! Ha!
    It's always that you have the guts to buy "nobody wants now" rather than "everybody wants now" that can make you a pile of $$$ if your vision of the future is correct.
    If it's wrong, hopefully there is some residue value lol.

    1. Hi temperament,

      I agree it takes guts and contrarian behavior to make! But going now into Keppel or SCI vs 1 year ago?

      Am I completely excluding them? Not really, but maybe not even now for me. Furthermore there are quite a lot of bargains elsewhere more attractive.

      I am buying in quite lot lately. Hopefully the vision is right!

      Huat Ah….

    2. If you go in now (earlier), you have to wait longer (maybe 2 to 3years to 5) to make money lol.
      SETE BRAZIL application for chapter 11 is still in consideration.
      i think it's "safer" to buy after SETE BRAZIL decision either way. That's chapter 11 or no chapter 11
      But who really knows?

    3. Oil and Gas better let the dust settle, which is probably end of this yr or early 2017.
      Both Keppel and SCI Sete Brasil rigs at most 4-5 will go ahead out of the 13 rigs ordered! Even if sete Brasil bankrupt n will not pay the first 4-5 rigs, Both Keppel n Semb will have to own it themselves n market. This scenario happened during the GFC, where petropod go bust n Jurong took over the rig n sell later!

  3. Do not leave the industry is true, I would also view it as "Do not leave your job!" this is unfortunately a bad time to resign or switch jobs due to the economic uncertainty and with so many companies retrenching folks.

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