When I heard that BP was destroying a big portion of Earth, with no serious discussion of cutting their dividend, I had two thoughts: 1) I hate them, and 2) This would be an excellent time to buy their stock. And so I did. Although I should have waited a week.
People ask me how it feels to take the side of moral bankruptcy. Answer: Pretty good! Thanks for asking. How's it feel to be a disgruntled victim?
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I hate BP, but I admire them too, in the same way I respect the work ethic of serial killers. I remember the day I learned that BP was using a submarine…with a web cam…a mile under the sea…to feed live video of their disaster to the world. My mind screamed "STOP TRYING TO MAKE ME LOVE YOU! MUST…THINK…OF DEAD BIRDS TO MAINTAIN ANGER!" The geeky side of me has a bit of a crush on them, but I still hate them for turning Florida into a dip stick.
BP stock is up 30-40% since this was posted. I bought this stock with variable portfolio money last year about this time.
Anyone else buy in? I was going to sell and lock in the LT gains in a couple months, but they are paying a dividend again. With the rising oil prices I may keep riding this horse a little longer. Anyone else thinking along the same lines?
Last edited by craigr on Mon Apr 18, 2011 8:28 pm, edited 1 time in total.
I don't own BP, but I have noticed that my individual stock holdings pretty much constitute a Bizarro* list to the ethically oriented mutual funds I've read about. Tobacco, oil, alcohol, aerospace (with military contracts). My dividend stocks are evil incarnate.
*(If you don't know who Bizarro is, just substitute Lex Luthor).
Buffett has announced plans to step down as Berkshire Hathaway chief executive by the end of the year after a storied 60-year run. —WSJ
craigr wrote:
BP stock is up 30-40% since this was posted. I bought this stock with variable portfolio money last year about this time.
Anyone else buy in? I was going to sell and lock in the LT gains in a couple months, but they are paying a dividend again. With the rising oil prices I may keep riding this horse a little longer. Anyone else thinking along the same lines?
It sounds like BP has been peeking at the bankers' playbook--pocket the profits and socialize the losses.
In the words of the Black Adder, "it's a plan so cunning you could put a tail on it and call it a weasel."
Q: “Do you have funny shaped balloons?”
A: “Not unless round is funny.”
