Let’s review my recent commentsSo over the last few weeks I’ve made predictions and shared my opinions, all of them soundly ridiculed. Let’s see how they have fared thus far.
1) WTI would drop below $50 - Correct
2) WTI will not see $55 (VET’s assumed price for 2020. And remember VET is poorly hedged in 2020 as compared to 2019.) for quite some time - TBD but increasingly correct.
3) The $20’s will become the new $30’s - TBD but increasingly correct as VET’s share price staying into the $20’s appears to be a thing of the past.
4) The dividend is unsustainable and will need to be cut - TBD but by definition VET’s dividend is unsustainable as its cash flow clearly doesn’t cover the dividend. And companies with unsustainable dividends often see its share price drop dwarf its dividend payout over time.
5) VET will soon make new 52 week lows - TBD but likely will happen very soon.
6) VET’s share price will drop below $10 - TBD but look at the trend.
Time will tell. People’s reaction to my comments remind me of Arthur Schopenhauer’s famous quote, “All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.”
GLTA. JMHO.