I tripled my money in the late 90’s in FLC, which was later acquired by RIG. I think you are correct. Oil is a great long term play...I haven’t been in since FLC, but I will check it out. I am currently getting my butt kicked by the mortgage stocks...oh well, it’s just money.
I'm nibbling on GS and tempted by BSC, a new area for me - I've had like 0% brokers since I sold LEH last fall. Well, similar, held MCO til early July. It is now back to the price I bought it for more than a year ago, it deserves more respect! I think that the current turmoil has run these financial stocks down to throw away prices - blood in the street. Come next spring, there will be lots of political pressure to stimulate growth. If the markets don't work through these problems perhaps earlier, anyway. More likely if many more people start loosing their homes.
A few years ago, I just managed to get out of TOL in time for a small profit, held too long. I guess that is why I favor sectors with persistent uptrend's, like in energy. At least while I have to hold down a day job.
Lots of consolidation in the energy sector bought me out of fine companies at good premiums - really gooses the return.
But roll me back to 1991, I was using a charting service, Worden Brothers TeleChart, and watched BRK go from 5000 to 9999 over a few years, the limit of the charting software. Should have put everything in that stock and forgotten about it. Sigh! (today 111,500)