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DewDiligence

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DewDiligence

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Re: DewDiligence post# 4692

Wednesday, 04/11/2012 9:57:49 AM

Wednesday, April 11, 2012 9:57:49 AM

Post# of 30494
WSJ touts COP’s ‘Phillips 66’ downstream spin-off due to the favorable locations (in terms of price spreads) of its refineries in the Midwest and Gulf coast:

http://online.wsj.com/article/SB10001424052702304587704577333980550715406.html

COP has been such a colossal screw-up in recent years that I’m skeptical of the investment merit of its successor companies. Moreover, the successor companies will likely trade above fair value immediately following the spin-off due to their novelty, which is yet another reason to avoid them. Comments?

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

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