If you’re like most American’s, you have some kind of 401K or IRA invested in mutual funds. And….most of the top performing funds the last 2 years were invested in oil and gas stocks.
I saw recently that Carl Icahn’s holding company lost about 350 million dollars in the third quarter from hanging on to his oil holdings too long. This has not only been a drag on Icahn, but if you’ve looked at your holdings statements and wondered why the stock market can be up so much, yet your portfolio isn’t up a reciprocal amount, that could be a reason why. But this will bottom, so today we’re a lot closer to a buying opportunity than we are at a place to sell.
I’m optimistic long-term. We have a great future in American Oil.
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