Tuesday, July 24, 2012

More Christmas Cards coming from China

I'm on the road so won't be able to post a video until tomorrow. However, after seeing the news of the Nexen take-out by China, I expect an avalanche of more Christmas cards being received by the Canadian institutions from the Chinese. As I've been repeating for months, it's almost criminal that the Canadian houses continue to tell investors to dump their energy shares in the midst of the greatest bull market in energy the world has seen. China needs energy. Canada has energy. It's simple - but not for the brain dead Canadian institutions and the inept US institutions. Nexen should have been bid up substantially higher forcing the Chinese to pay up for what they need. Instead, they give the Chinese what they need at substantially discounted prices. Expect the Christmas cards to continue as you can't teach an old, inept dog a new trick. stateside

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