The guest commentary below was written by Jesse Felder of The Felder Report. This piece does not necessarily reflect the opinion of Hedgeye.
It’s hard to believe that even after dramatically outperforming the broad stock market for almost two years now, energy stocks still trade at a massive discount.
https://twitter.com/jessefelder/status/1550928672458125312
In that context, however, it’s not hard to understand why executives in the sector have been, and still remain, such avid buyers of their own shares.
https://twitter.com/VrntPerception/status/1554454215799570432
They’re simply doing what Warren Buffett famously recommended by getting greedy as retail investors once again get fearful.
https://twitter.com/MikeZaccardi/status/1545350945302872067
Of course, Mr. Buffett, himself, is demonstrating how he puts his famous saying into practice.
https://twitter.com/jessefelder/status/1543290535535788032
Clearly he doesn’t suffer from the same failure of imagination that retail investors currently do.
https://twitter.com/PauloMacro/status/1548780048957771776
EDITOR'S NOTE
This is a Hedgeye Guest Contributor piece written by Jesse Felder and reposted from The Felder Report blog. Felder has been managing money for over 20 years. He began his professional career at Bear, Stearns & Co. and later co-founded a multi-billion-dollar hedge fund firm headquartered in Santa Monica, California. Today he lives in Bend, Oregon and publishes The Felder Report. This piece does not necessarily reflect the opinion of Hedgeye.