Great contrarian indicator found

How do you find people to help you make buy/sell decisions? Here’s some good news. IFO has found a great contrarian. If he says buy, you sell, and vice-versa. Of course, as always, you should make up your own mind, but look at this:
BP’s a Buy Whether or Not Russian Venture Works Out: Analyst

Bank of America/Merrill Lynch analyst Alejandro Demichelis upgraded shares of BP (BP) to Buy today, arguing that the company is significantly undervalued on a net asset value basis, and has upside potential of 31%.

and later:

Demichelis also weighs in on BP’s deal with Russian oil producer OAO Rosneft, a relationship the company has been attempting to mend after it fell apart a few months ago.

There you go – the entire analysis apparently ignores the quality of management as shown by its attempt to do this OAO Rosneft deal.

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About InvestingforOne

I've been investing in various assets by myself using a discount broker for many years. Over that time, I've developed some theories that others might find useful. Plus, there is more to investing than money. Time, talent, work, friends, family all go into developing a good and satisfactory strategy.
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