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XOM - Southwestern Energy: A Misunderstood Natural Gas Producer
Exxon Mobil Corporation
"A 60:40 allocation to passive long-only equities and bonds has been a great proposition for the last 35 years… We are profoundly worried that this could be a risky allocation over the next 10." -Sanford C. Bernstein & Company Analysts (January 2017)
"Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria." -Sir John Templeton
"Life and investing are long ballgames." -Julian Robertson
Introduction
Investing in the energy sector has been a brutal endeavor, really ever since 2014, and this has been even more difficult because