One of the reasons why I thought Buffett’s investment in Occidental Petroleum would perform badly was because the last time Buffett bought oil stocks (aka $COP
), it was back in 2008 and that bet failed miserably.
After looking at this chart, I see that the timing of Buffett’s oil investments greatly influenced whether he’ll do well with his oil bets or not.
Overall, with the timing of the Occidental purchases, I think Buffett will see $OXY
being one of his top performing investments. Hopefully he knows to cash out when the metric (shown in the chart) reaches its upper limit.