We like to keep things simple around here.
When there is less supply of something, and more demand for it, the price goes up.
That’s how markets work.
So first it was Warren Buffett aggressively buying shares of Chevron. He now owns over $30 Billion worth.
This has been a very very good trade for us.
Warren Buffett was the smart money. And we listened.
Now this week, you can argue that the even smarter money, the company itself, announced a $75 Billion Buyback.
In other words, with all the money that Chevron is making these days, they believe the best thing they can do with all that cash is to buy their own stock.
And so $CVX is now making new all-time highs, again: [Read more…]