I can understand why you opted to sell your XOM holdings. It can be a tough industry at times and the volatility can be hard to live with, financially speaking. And this time around the industry suffered a rare, and devastating, double whammy of a price war and the Coronavirus outbreak.
But you might wish you had held on to some of it when the next flash point somewhere in the world erupts and everyone starts worrying about a supply problem again. This is an inevitability.
Just my .02 cents, which might be about the sum of my XOM dividends next quarter. LOL.
Understand, all investment carries risks and benefits. The dividends have been very nice, I have carried the XOM stocks, and added to them for decades.
But (yes I know the fallacy) This time feels different.
Remain vigilant, live in fearless caution
... this time around the industry suffered a rare, and devastating, double whammy of a price war and the Coronavirus outbreak.
This double whammy has presented a "once-in-a-lifetime" buying opportunity.
I started buying XOM at $32 a share.
This country runs on petroleum. The low prices at the pump will benefit the consumer and help speed the economic recovery.
As demand increases, the price of oil will go up as well. I strongly believe that the big oil companies will recover much faster than other industries.