RE:RE:Some of these posts are just embarassingThe Saudi's invested in the past to gain a foothold in North America. Now that America has pretty much turned its back on the Middle East as a supplier of oil, the Saudi's have simply repositioned their money.
Birkshire bought in at what they thought was the low only to see the share price plummet from there. They doubled down at the bottom and got out when their investment in SU recovered. BRK decided to reposition in American oil assets that got clobbered.
Institutions, like retail investors have thousands of reasons to sell and only one to buy. The primary differences are that institutions are far more disciplined and they have the world at their feet in terms of information as every company wants instituional backing. Institutions treat companies like they are groceries in a super market as they don't get emotional about their investments.
The street punished the oils. The oils responded and now they are back in favour. SU didn't give the street what it wanted in terms of holding their dividend so the street simply moved away to take advantage of the gains to be made elsewhere. Obviously, the situation at SU scared the BoD and they decided that it was time for the company to get serious about the business, which takes time.
Imo, the low share price is not about what the company is doing now, but rather is a result of the careless attitude of mgmt in the past. I'm up over 30% in a few months and collecting the dividend. It is obvious where the company is headed and I'm prepared to ride this out as I'm happy as a clam.
I don't blame anyone for being disappointed if they have owned SU shares for awhile and have seen both their income and net worth decline and in our society we still kinda have the right of free speech as long as you don't offend anyone.
SU has become very transparent about their operations and their intent which should allow for easy decision making for investors. It is up to each individual investor how they want to handle their holdings. Unfortunately, none of us have the gift of hindsight.