RE:RE:RE:International ETFs and Mutual Funds abandoning Canadian oilYeah when you map (project) the macro factors (oil price, interest rates, inflation, treasury yields, geopolitical risk premiums etc) onto the micro company levels (breakeven costs, netbacks, debt structure and levels, debt to equity, fcf yield, net income, etc) then you quickly realize that different companies perform better than others in a given set of macro conditions because they are exposed to differing degrees to changing macro conditions.
That's why I LMFAO when Nuttal comes on and presents his amateurish, iirrelevant charts correlating fcf to only the one factor of wti. Then he yaps on about fcf yield. He doesn't even explain how he defines it. But I know that it's not the GAAP definition. Baytex does define their fcf yield. Also not GAAP.
Anyway based on his useless correlation between fcf and wti he had projected that bte would be $19 sp by now. You can youtube or google to refute me. But I did see the video back in 2022 where he did make that dumbass, ill- conceived, doughy brained projection. And most people bought it. That's why Frank plays the momentum of the suckers. And I'm finally learning what contrarian investment means. Bet against the crowd because most of them are dumber than a sack of hammers.