Occidental Petroleum: Buffett Teaches The Market A Lesson

Summary:

• Warren Buffett’s continued investment in Occidental Petroleum highlights a typical great investor’s long-term strategy of buying bargains.
• Great investors like Buffett buy bargains and sell during favorable industry cycles.
• Many investors lack faith in their due diligence. They then worry that a future stock price drop indicates a mistake.
• The CrownRock acquisition is complete. But it will take some time for the acquisition to affect company profits materially.
• The acquisitions likely mean that profitability will continue to increase for some time to come.

Warren Buffett who runs Berkshire Hathaway (BRK.A)(BRK.B) once again purchased some more shares of Occidental Petroleum (NYSE:OXY) long after the market had given up on more purchases. The market tends to value upstream

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