No. of Recommendations: 20
Stocks can trade anywhere but we must be close to an aggressive buy price. Do not anchor on past prices.Speaking of past prices, forecasts, and anchors...
Last summer I gave a back-of-the-envelope opinion on a two year outlook.
http://www.datahelper.com/mi/search.phtml?nofool=y...So, if we ignore all bad news since then (not really that much other than price changes), it's now a forecast for next year.
It suggested a two year gain of 37.7%
The price was $402120 then ($268.08 per B).
So, it was a forecast of around $553720 June next year ($319.15 per B). In 2022 dollars...it was a happy envelope.
The price is $301 per B in pre-market as I type, so that old forecast thinks we might see a price rise of 22.6% from here in the next 16 months = 16.8%/yr rate.
That definitely looks pretty optimistic now, but I could live with that result.
This is the valuation linked in that thread
http://stonewellfunds.com/ConsensusValue2008-2022....New data points coming soon...
Jim
