Emotions don't belong in your investment strategyLong term SU holders feel betrayed as their income had been cut and the value of their investment is not where they hoped it would be. Frustration is easy to understand.
New SU shareholders see nothing but opportunity and are prepared to wait for good business decisions to manifest into superior gains. That is also easy to understand.
Who's right and who's wrong depends upon one's perspective.
Investments are not like relationships. History is meaningless when it comes to stocks other that serving as a possible indicator of future patterns. Unlike a loved one, the market doesn't care about you or your cost, and neither should you if you can take emotion out of the equation.
The reason the pros always win at the expense of retail players is that the pros leave emotion out of the game.
Your cost on an investment is irrelevant unless you are considering the tax considerations and the timing of the tax consequences.
If emotions are running high for you, you might want to ask yourself some questions.
Does the company's strategy suit your needs for today and going forward?
If the answer is different for the two time frames, which is more important to you?
Since short term fixes rarely work out in the long term, is managment deploying funds in the best possible manner for the long term?
Does owning shares in the company make you feel good or bad?
Do you have better options for your investments?
The answers to 4 out of the 5 questions are personal and there is no right answer for everyone.
The only question where there is no emotion involved is whether the company is deploying funds effectively for the long term and imo, the answer is unquestionably yes.
Demand for SU's oil is going to remain strong for a generation at least. The company is now a low cost producer by world standards which will extend its longevity. The fact that the company can operate with minimal CAPEX requirements for the next 60 years means they can deploy their bountiful free cash flow wherever they see fit, including making the necessary concessions to the GHG movement as part of the long play.
The only relevant question going forward imo is whether the company will continue to make good business decisions. Hopefully we will get another glimpse on Thursday.
In the meantime, let's try to be nice to each other as we all want SU to help look after our investment needs.