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February 25, 2015

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The volatility of oil stocks has never been something I've enjoyed, but I do have a couple of names in our portfolio. Diversified holdings are a good idea though. Since Sept 1 we're down 0.19% not including any dividends, and I can't complain about that.

Over the years we have been in the stock market we have had months of elation mixed with months of gut wrenching agony. But in the long run it always comes out ahead. Some forecasters are now saying that oil may bounce to a way higher price then before the drop in the not too distant future. Then you will be laughing.

Oh boy! I was concerned about you guys and also concerned about our son who works in the tar sands. It is not a good time for those who depend on the price of oil!

But then as you say, it will come back'

R,
The volatility is usually how I make money but that 55% drop in crude was quite a shock. The big question is "how many times will I learn the diversification lesson (the hard way) before it sinks in?" :)
Knowing myself, I give it a few more years...

Mr P,
Agreed. The good names will survive & thrive and the indebted companies will die out. And then everyone will forget this happened and oil will shoot up again - and rinse and repeat the whole dramatic process in another 3 or 4 years ...
By then diversification will be my new best friend!

mexiCroft,
You have a son working in the oil sands? Is he the construction son who helped build your fence? Hope his job is okay.
Folks I know working in Canadian energy are nervous about what's gonna happen after spring break up. Lots of them aren't being called back to work when their contracts end and I feel for them.
As for our portfolio, the 60% drop sounds worse than it is. I figured since I brag about the good moves, I better fess up and admit when things fall apart! It's already starting to recover and I'm confident in the companies we own since I do a lot of research before I buy in. What really hurt was the dividend cuts. We make a lot of moolah in dividends in our non-registered accounts so the cuts were quite painful.
When crude oil finally recovers I'll start diversifying into other sectors. Until then I'll just be happy playing with my new interactive crude charts :)

I sold Crescent Point and bought Surge figuring it had more upside when Oil recovers. Still waiting. Good news overall portfolio hit a new high last week so diversification is the key. When I do get depressed I add up my monthly dividend cheques. That usually cheers me up.

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