Damn, it's been a while since I've posted something here, but at least my portfolio performance decided to reward my lack of effort - portfolio is up more that 15% this month alone!
In the next few entries I'll try to review several of TPG-Axon's long picks. Why TPG? Well, the reasons are not sophisticated: it's one of the more well-known names on the street, and second of all their portfolio selection looks interesting at the first glance. So without further adieu we move to...Halliburton. The name has a dirty connotations for most people on main street, but I actually have a pretty limited idea of what do aside from having suspect connections to Dick Cheney and it has something to do with oil servicing.
Industry. There are several big oil servicing players: Halliburton, Baker Hughes, Schlumberger, Weatherford. Halli has historically traded at a discount to others due to shady connections, asbestos settlement and lower international exposure.
Alright, I just read more about Halliburton. My conclusion is it's practically impossible to make a sound judgment on the business unless you spend a week analyzing it - there are too many moving pieces (what happens to us market, to international market, share) and not enough perspective return to compensate me for this mess.
Tuesday, July 29, 2008
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