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Biberon
Biberon
P&P Score: 48.11   Points: -3.14   Accuracy: 42.86%   Average Pick Score: -1.06   Annual Return: 5.89% (13.94% since 1/12/10)  

Biberon's Blog : Concerning Petrobras

Date January 3, 2011  Edited: January 3, 2011    Comments Comments (0)    Rate this post Recommend This Post (105)   
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The state stake in this enterprise being too big, the government of the country being too socialist and the corporate management- too ineffective, I'm on short position concerning Petroleo despite of all its huge pre-salt oil potential story.

It's of no surprise that the performance of PBR in 2010 have been disastrous.
I bought the stock for 19 $ during the worst moments of the financial crisis and then sold it for 37 $ in the summer of 2010. I'm glad having done it because it DID NOT move since then.
Tags : PBR  

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