RE: RE: BCE outperform Telus & RogersSold Telus (T.to) a few days ago to finance the purchase of Colombian oil-play Petrominerales (PMG.to). The Telus shares had moved 25% over a few months. It is still decent value at ~$40/share. If there wasn't something else that I wanted to buy really badly I would have been happy holding it. I bought Telus to diversify the BCE position. I had no particular reason to like Telus other than it was inexpensive. I've heard more negative comments about Telus in the Lower Mainland of B.C. than I have any other telecomm compnay. Telus' stellar performance simply reinforces the advantage of buying small baskets of stocks in favoured sectors. Own Shaw Comm. too.
For the curious: Petrominerales just starting paying a 1.9% annualized dividend yield and is easily self-funding an ambitious capital expenditure program. Colombia just elected the economist-trained former defence minister Uribe to President. I couldn't resist. Note carefully: this is one of ... 9 (?) Colombian oil plays this household owns. Although the narco-terrorist organization FARC no longer numbers in the tens of thousands, it still numbers in the thousands. If the price of oil drops to well below US$50/barrel, investors could be hooped for a long time. For discussion purposes only. My unqualified advice is to stay away from stuff you don't understand or feel comfortable with; there is no shame. But if you do feel comfortable, take a look; this is one helluva regional play and Canadian-based oil companies are the big stars.