Due to slide in the oil prices, energy market has taken a big hit and most of the energy companies are down by a significant amount, almost in bearish territory. As Warren Buffet says: Be greedy when others are fearful and heeding that advice from Oracle of Omaha, I made one stock purchase of an energy company: BP plc (BP).
I bought BP on 6/02 and got 2.31 shares for $100. I get the fractional shares in my Share builder account. This is kind of cool as I do not have to pony up extra dollars than what I want to buy. Note that BP is still a risky stock due to the nature of the cyclical business it is in. I’m in it for long haul and not very concerned about the volatility as much. I’m just starting out to build my fund.
Disclosure: Long on BP.
Thanks for reading.