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DewDiligence

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DewDiligence

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Re: DewDiligence post# 703

Monday, 04/19/2010 9:53:25 PM

Monday, April 19, 2010 9:53:25 PM

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Quiz: COP has told investors it plans to pare its Lukoil equity stake from 20% to 10%, but not right away. This raises an obvious question: If paring the Lukoil stake is a good idea, why wait? Oil prices have already had a nice recovery from the recession low, so it’s doubtful, IMO, that COP is deferring the Lukoil sale merely because they think oil prices are going higher.

There’s another explanation—a cynical one—for why COP is deferring the Lukoil sale. What is the cynical explanation?


“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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