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Energy Investing
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Buying and selling VET My general approach is to stay away from a stock when I have previously lost money on it. Its probably human nature: "Once bitten, twice shy". I learned about VET over the years on this board. I purchased shares, lost a little, and then sold on two occasions before 2020. The second sale was when they axed their dividend shortly after reassuring investors that it was safe. You would think that I would have stayed away. In 2020 I missed the move from 2 to 8 bucks and then started accumulating. Most of my decisions have been based on reading this board and links to VET information posted on this board. My purchases have been in retirement and thus free of the shackles of capital gains. I have taken profits on VET several times and keep buying it back on every energy "correction". My conviction that oil and gas are the place to be remains strong. My realized profits on sold VET shares is over 100% and represents the largest single total dollar realized gain I have every made on a stock in my entire investing career. My unsold and repurchased shares represent my largest O&G E&P holding. I own much more EPD and have never sold a share in over 15 years. I am up nicely on my VET shares. Knowing my greedy nature, I will probably make partial sales on "pops" and repurchase on "dips". It has been so easy with the volatility of energy equities in general and VET in particular. If, as anticipated, the dividend becomes substantial, I will stop bobbing in and out and simply hold. I suspect VET valuations will become much less volatile once a significant dividend is reached. Needless to say, I am a big VET fan. I thank the members of this board, especially Namkaat, for educating me and keeping me abreast of news on this company. patterj |
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