RE:RE:RE:Josef Schachter2smart4u2 wrote: Schachter wouldn't know if crude stocks were up . down, sideways, or in another dimension, he knows no more then you and I. He is constantly bearish on oil, no matter what the current situation is or price is for the last decade! Yet he picks stocks in the oil and gas sector to buy like Pengrowth, where he has a target price of $3.60? The consensus for Pengrowth by all the analysts is they desperately need higher oil prices and this year to satisfy their debt covenants or they are in trouble. Schachter is calling for oil prices to fall into the $30's next quarter but Pengrowth is a pick???
Come on that is just nuts! The stuff that comes on BNN is just unreal!
Exactly - he is shilling for someone who is paying him to pump Pengrowth. Totally incongruent to be recommending Pengrowth when at the same time you are calling for oil to fall to $30.
Another thing about Schachter is that he frequently refers to book value when discussing oil companies. Sorry but book value or discount to BV is a very poor metric when valuing oil companies because BV is a historical accounting value based on historical prices. When an oil company is trading well below its book value its usually an indicator of a pending large write down. Future cash flow is 10 times more valuable a metric than historical BV.