RE:A must watch video for every investor IMOGreat video....eloquently (hah) talks about the points I have been making in many posts here and revently.
When I try to figure out something I try to look at it from both sides of the table. In fact sometimes I actually get up an sit on the other side of my desk as an aid to think about the subject from the other side.
I have invested in Teck on and off for decades. Throughout that time, the company has had excellent management with considerable foresight. The only reason that I have been in and out of the company was due to vommodity price cycles not due to bad management.
So why do I bring this up in the context of the video you posted?
The management of Teck Corporation are a bunch of very smart cookies and also people who recognize when they made a mistake and then figure out the best way to correct that mistake. They did not sell their stake in Fort Hills and gave it away.
What they did was see into the future and figured out where they could get the best return for their shareholders. Their determination was that they they could do better with their money elsewhere than continuing to hold the Fort Hills asset.
While many people here are fans of SU, I have found over the years to be very pragmatic about where i put my money and look at what people who are smarter than me are doing. Being a fan often leads to a loss of objectivity which in turns leads to bad or sub-optimal investment decisions. For me the message in the sale by Teck is that there are better places to put your money.
Could Teck be wrong?
Sure they could but smart investors will take a hard objective look at it and think through their investment in SU not simply be a fan and say Teck was wrong without thinking it through.