I don't like stock buybacks. I think if a company has the money to buy their stock back, then they should take that and increase the dividends. Send it back to the stockholder. Let them invest their money again from the dividends.
If somebody I don't like gets in the crosshairs, I pull the trigger. But I don't hunt for them.
It has become cheaper to look for oil on the floor of the New York Stock Exchange than in the ground.
There's no question that tar sands in Canada are probably the largest source of oil available to the U.S. over a long period of time. There's as much oil in the tar sands probably as there is in Saudi Arabia. The problem is, there's a huge capital requirement to develop that.
If you don't have a refinery operating, it's hard to use oil that's available.
I have always believed that it's important to show a new look periodically. Predictability can lead to failure.
