I bought 7 CEO CNOOC shares, late, hopefully not too late… October 13, 2009Posted by deminvest in CEO, China stock, Defensive Stock, growth stock, investment.
Tags: offshore, oil
I wanted to buy the Chinese offshore oil company CNOOC in March .I should have because CEO shares are 40% up now. Actually anybody should have bought about anything in March… markets are 60% higher!
Today I spent $1,028.37 to get 7 CEO shares ($146.13 each). If I had bought them in March I’d have 10 in my portfolio and some extra cash.
I chose this offshore oil company for several reasons:
1) China’s Economy is great. Not even the great recession could stop it.
2) Such liquidity may spur inflation. Oil is a commodity and it works as protection against inflation
3) Chinese car sales are up 80% from last year. I’m afraid there isn’t enough oil for all the World. Prices will go up.