Doubling Down on EXCO
It's easy to fool yourself into thinking you were too early getting into a stock instead of admitting you were just plain wrong. But at the risk of making that rookie mistake, I've added to the beaten-down position I have in exploration-and-production play EXCO Resources (XCO).
XCO shares are down a crushing 40% since I featured them in my Nov. 17 column. I was clearly much too early betting alongside legendary investor Wilbur Ross that progress towards a rational energy policy in the U.S. would (no, should) acknowledge this homegrown fuel's potential in a long-term energy plan. With its reliance on sales of natural gas, EXCO has suffered along with common sense by the inability of the Beltway Boys to get out of the way of making the U.S. less dependent on foreign energy sources. ...701 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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