My conviction in energy stocks is growing. I don’t expect huge returns necessarily, but think the likelihood of the large and megacaps to go up 25% in 1-3 years is quite high. Meanwhile 4% dividends and huge share buybacks.
The moment China gives up its failing covid lockdowns, the world’s largest importer will suddenly see a wave of demand. Sanctions and loss of Western production parts and tech will squeeze then strangle Russian production. I think the decline curve will look like Venezuela’s.
