Hi All,
Long time lurker, new poster here. I enjoy and appreciate all of the insight I gain from all of you.
My issue: as I built up my portfolio of individual dividend paying/growing stocks, I got carried away in buying oil/energy related stocks. Most of the stocks are solid companies with long track records (e.g., Chevron (CVX), Royal Dutch Shell (RDS.B), Helmerich & Payne (HP), British Petroleum (BP)), and one in which I did absolutely no due-diligence (Seadrill (SDRL))
. I learned my lesson with Seadrill - I bought in based only on optimistic talk about it. I knew at the time I invested that it was purely speculative and I didn't commit a whole lot of money to it.
Fortunately, I'm well-diversified
so the ding that I took in all of the oil/energy related stocks wasn't as bad overall as it may have otherwise been. At any rate - my question: Now that stocks like CVX, RDS.B, BP, HP have gotten knocked down quite a bit, I'm tempted to buy more of these shares (but not Seadrill - I'll probably use that as a write-off), even though I'm overweight in oil/energy. I'm still in the accumulation phase and don't see the possibility of retirement for another eight years or so. Do I buy more of these shares now that people are running for the exit, or do I forgo the opportunity to buy shares cheap and concentrate on other things? I'd appreciate and value your input. Thanks.
Long time lurker, new poster here. I enjoy and appreciate all of the insight I gain from all of you.
My issue: as I built up my portfolio of individual dividend paying/growing stocks, I got carried away in buying oil/energy related stocks. Most of the stocks are solid companies with long track records (e.g., Chevron (CVX), Royal Dutch Shell (RDS.B), Helmerich & Payne (HP), British Petroleum (BP)), and one in which I did absolutely no due-diligence (Seadrill (SDRL))
. I learned my lesson with Seadrill - I bought in based only on optimistic talk about it. I knew at the time I invested that it was purely speculative and I didn't commit a whole lot of money to it.Fortunately, I'm well-diversified
so the ding that I took in all of the oil/energy related stocks wasn't as bad overall as it may have otherwise been. At any rate - my question: Now that stocks like CVX, RDS.B, BP, HP have gotten knocked down quite a bit, I'm tempted to buy more of these shares (but not Seadrill - I'll probably use that as a write-off), even though I'm overweight in oil/energy. I'm still in the accumulation phase and don't see the possibility of retirement for another eight years or so. Do I buy more of these shares now that people are running for the exit, or do I forgo the opportunity to buy shares cheap and concentrate on other things? I'd appreciate and value your input. Thanks.