RE:Confidence in Uncertain TimesTou're right The CEO bought 850,000 and 2 directors bought app 200,000 each . They may not be smart but they sure are comitted to the company . But if the next post about the Saudis putting even more oil on the market recovery will take a while . It takes longer to get the airplanes back in the sky , the cruise ships at sea and consumer demand back than it took to shut them down . There was a bit of a cushion with the USA refilling their strategic reserve and all the idle tankers being used as storage but thats gone now .
Myself I think the Saudis are stupid . Shale producers were already cutting back and its known that they were using their tier one properties . The new guy running the show is a hothead idealog . So while iI think ist time to start picking up solid companies with good records of sound management and dividend growth ( but not banks who all own tons of debt owed by over leveraged consumers and companies ) I don't \think the bottoms in yet on oil . But when it is I think its going to be like 1990 to 2000 when there was a lot of money to be made in the oil sector . That was when great companies were formed , like CNQ and Precision Drilling and lots of others that were bought up by the majors . ( I know CNR and Precision are being hard hit now but at their peaks they were 40 and 50 baggers , and you get out before then ) .