Post #14071 by mungofitch on the Berkshire Hathaway board

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I wouldn't lose much sleep. It's not as if there is anyone who is unaware that (a) the oil business is very cyclical, and (b) not in a predictable way.

It's a shame that Berkshire's OXY position is underwater by 1/3, but I think it's mainly a wager on the long term, with a dividend to while away the years. Oil will have value for a very long time, just sometimes less than at other times.

Jim

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