Economic security

IS WARREN BUFFETT WRONG ABOUT OIL STOCKS? – ANALYSIS

Recently, Warren Buffett has made headlines by selling all of his shares in Exxon Mobil (NYSE: XOM), the rest of his position in ConocoPhillips (NYSE:COP), and reducing his stake in National Oilwell Varco. This has people wondering if the glory days of oil investing are over. Warren’s opinion of oil investments carries a lot of weight, because over a 32 year period, Warren Buffet’s Berkshire Hathaway portfolio has generated an average annual return of 24 percent.