Inwestor's  Instablog

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I own a couple of private companies in Idaho and invest in the high quality public companies when their stocks get cheap. Many of my friends and family asked me for stock advice so I started a website where anyone can see my portolios and follow along. I love to make money but hate to risk it so... More
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  • BP In Deep Water 0 comments
    Jun 7, 2010 1:20 PM | about stocks: BP, COP, CVX, XOM

    When this oil spill started I thought it would create a great buying opportunity in BP.  The longer this goes on with very little light at the end of the tunnel I am staying away from BP.  Yes they have serious cash flow and a strong balance sheet but, yikes.  The lawsuits and the cleanup costs that could be huge and becuase we do not yet know when it will come to an end stay out.  If you are looking for exposure to the oil companies I recommend Chevron CVX, and ConocoPhillips COP.  Both look attrative after the recent pullback.

    Disclosure: None
    Stocks: BP, COP, CVX, XOM
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