Apr
30
Hedge-fund Managers on Oil Investments — It’s Too Soon
By
Associated Press
Prices remain too high to find significant value in oil stocks.
That was the consensus among several hedge-fund managers investing in distressed debt, speaking at the Milken Institute Global Conference in Los Angeles this week.
“I think there will be additional volatility in oil prices,” said Christopher Pucillo, CEO and chief investment officer, Solus Alternative Asset Management. Mr. Pucillo said shares of many oil companies look too high to justify right now based on their forward price-to-earnings ratio.
Oil prices have moved up more than 30% since mid-March but even with that rebound, prices are still down nearly 50% from their peak in mid June of 2014…
Hedge-fund Managers on Oil Investments — It’s Too Soon
