Very much enjoy your stuff and currently share some of your holdings. A small point…. I am guessing that the examples were not all paying dividends at the time of purchase in 2020. Am I correct? Even so, the thesis holds.
Athabasca, MEG and Baytex were not paying dividends, and of those only Baytex pays one today. They seem to prefer "buybacks" which is the primary reason I sold those holdings. I am no fan of share repurchases since they divide shareholders into camps and I don't like to see my money given to people exiting the company.
Excellent post. Enjoy your winnings and wishing you many more!
Very much enjoy your stuff and currently share some of your holdings. A small point…. I am guessing that the examples were not all paying dividends at the time of purchase in 2020. Am I correct? Even so, the thesis holds.
Athabasca, MEG and Baytex were not paying dividends, and of those only Baytex pays one today. They seem to prefer "buybacks" which is the primary reason I sold those holdings. I am no fan of share repurchases since they divide shareholders into camps and I don't like to see my money given to people exiting the company.
Thank you for sharing your wisdom! Much appreciated
Good for you Michael. Generational wealth without a generational investment amount.