SmartMoney.com columnist James B. Stewart has an interesting perspective on owning BP plc shares. In a recent column, he recommended selling BPwhenever good news comes along because it will be trading for a long time like a special situation stock, not a big-oil stock.
What he means is that it will be more subject to the vicissitudes of court rulings and takeover rumours than oil industry dynamics. There are hedge funds that specialize in special situations, so dont hang around for that game.
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BP a special situation stock
By Larry MacDonald
SmartMoney.com columnist James B. Stewart has an interesting perspective on owning BP plc shares. In a recent column, he recommended selling BPwhenever good news comes along because it will be trading for a long time like a special situation stock, not a big-oil stock.
What he means is that it will be more subject to the vicissitudes of court rulings and takeover rumours than oil industry dynamics. There are hedge funds that specialize in special situations, so dont hang around for that game.