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Originally Posted by Resolute 14
Speaking of stocks and Husky cancelling dividends for the year, their stock is in a nosedive. Down 11% this morning and below $12 a share at the moment. I'm sort of wondering if now might be a good time to consider buying and holding for a few years until recovery. Difficulty: I know literally nothing about buying stocks and investing.
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I'd pick a higher quality name for a value play. There's a lot of money on the sidelines right now. Large portfolio's are probably a little underweight oil and waiting to get back in. The first place they'll go is high quality names. I'd stick with the CNRL's or Suncor's of the world.
It also can't hurt to let the market find a bottom. No sense trying to guess the bottom and catch a falling knife. No loss giving up the first handful of percents in a recovery.