OCCIDENTAL PETROLEUM: Profit of +28.6%!

As is so often the case, decisions to sell are more difficult than decisions to buy. With a sale, the future ends, at least provisionally, with a purchase it begins. Both are based on present and future facts and the opinions implied by them. And as in the year-end report, we emphasize once again that there is no magic formula on the stock market... and certainly not at the moment! Every decision can be right, wrong, optimal or suboptimal. As long as a profit remains, a course of action is certainly not wrong, at most suboptimal... this is what happened with our energy share OCCIDENTAL PETROLEUM. We assumed that the oil price would fall just as quickly if the Iran conflict were to end quickly(er), which is still possible, but unfortunately we still see the opposite from a short-term perspective... hopefully not in the longer term. Well, we sold on March 19, as announced, at the price limit of USD 59.50 (FX: 0.7935) and after an interim book loss we made a nice profit of +28.6%. As of last Friday it would have been around +40%, but who knows, in two weeks it will only be +20%. "An ounce of prevention is worth a pound of cure" and "sometimes better safe than sorry". And "the optimum" probably depends on unpredictable timing! Nevertheless, we are satisfied with the +28.6% and our strategies also include concrete, realized profits!

OCCIDENTAL PETROLEUM is listed on the NYSE in New York under the symbol OXY, security no. 958,611, last price approx. USD 65.89.