Never mind why I bought PetroChina (PTR) -- why did you?!

Posted Oct 17th 2007 1:10PM by Sheldon Liber
Filed under: Major Movement, Rants and Raves, Berkshire Hathaway (BRK.A), China, ETF Investing, PetroChina Co Ltd ADR (PTR), Economic Data, Oil

Some of you may be sick of me writing for the third time in five days about PetroChina ADR (NYSE: PTR) -- unless you own it. But, it is on fire, so it is news. This morning as I type, PTR is up another $30 a share, passing $260. Many readers know why I invested in the company and may know that Warren Buffett did as well. His company Berkshire Hathaway (NYSE: BRK.A) ... has been selling of late, and has left a lot of money on the table.

I thought if there were any readers that would be willing to share when and why they bought PetroChina, their perspectives would be interesting. It would also be interesting if there is anyone that has been following this stock and feels they missed the boat, or on the other hand, thinks it is going to start falling for any reason. Is it time to sell or do some trimming? This post is meant to give readers a platform to discuss oil prices in general, and whether they believe energy should be excluded from the government's inflation figures.

From my perspective, I think energy should be included in the Consumer Price Index, perhaps as a rolling average, to account for volatility, but it should count. As far as PetroChina's sky-high stock price, I am skeptical when anything goes up this much without any earnings news or something about earnings.

Disclosure: I own shares of BRK.B and PTR.

To find potential opportunities and verify my track record, read Chasing Value or Serious Money.

Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm.

Tags: Berkshire Hathaway, BerkshireHathaway, BRK.A, BRK.B, China, inthenews, Investing in China, InvestingInChina, Petrochina, PTR, Sheldon Liber, SheldonLiber, Top Picks 2007, TopPicks2007, Warren Buffett, WarrenBuffett

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Reader Comments (Page 2 of 2)

10-30-2007 @ 4:02PM

charles boardman said...

I was stationed in China in 1945 by US Army and saw a considerable amount of the area and the natural resources which had never been touched. Since then I have visited China three times and saw the remarkable progress they were making in their living standards. I saw coal seams and oil oozing out of the ground in various places. I own BIDU,CMED,CHL and PTR all of which I bought in early 2006. They have done real well and I will hang on to them as part of my estate.