There have been some changes to my portfolio in the last couple of weeks, one position is now 30% of portfolio and others have been or are being sold.
This is the final instalment of my How to value an oil company series, and it is a real life example of a valuation. Novus energy is a small oil company trading at a large discount to its fair value.
The oil industry uses several standard metrics to value and evaluate oil producing companies. In this article I explain what they are, their strengths and weaknesses and how to use them.
Hanfeng Evergreen is in the middle of a privatisation deal which has been delayed for months. The stock trades well below the offer price so this presents an interesting special situation.
The next stage of an oil company is production. The process is fairly simple in theory but it is important to understand otherwise you could end up overpaying for an asset with quickly diminishing returns.
In Part 1 I looked at oil prices briefly, concluding that while important it is unknowable and therefore, as Warren Buffett advises, don’t spend all your time worrying about it. Instead lets worry about what we can know and that’s oil exploration.
This series of articles looks at how to value an oil company, from looking at the price of oil to oil exploration and production. By highlighting the key metrics used in evaluation you will have all the tools needed to value an oil company.
This is the final part of my series on hedging currency risk. I decided to go through how I decide on whether I want to hedge or not. For me I don’t automatically hedge, instead I choose whether to take on the risk or not based on analysis.
No this isn’t another post about Google Reader, it’s about my RSS feed. I have been using a third party…
Part 3 of my mini series on hedging currency risk. Here I show the results of the three hedges I put on, and decide which one performed the best.