I bought 500 shares of Occidental Petroleum (OXY) which is going to start a new portfolio in Wealth Builder.
I mentioned in a few post that I want to start a 4th portfolio which will be part Wealth Builder. This new portfolio will hold great stock that are very good dividend plays. I’ll have the new portfolio in the Wealth Builder Portfolios before the end of the weekend.
Today I bought 500 shares of Occidental Petroleum (OXY) which will be the first position to enter the new portfolio. I paid $38.95 per share and this stock pays a dividend of $8.1% at my buy-in price.
Buy 500 Shares OXY @ $38.95
This will be a long term hold and the dividends will be reinvested to build more shares.
Most investors, me included, admire Warren Buffett. He is know as the best investor of all time. Buffett just made a huge investment in OXY. He feels this stock will be a great energy play for the long term. When I was doing my investigation into OXY I came up with articles on Buffett’s purchase.
Billionaire investor Warren Buffett said Monday Berkshire Hathaway’s $10 billion investment in Occidental Petroleum is a bet on oil prices over the long term.
Buffett made this huge investment in Occidental so they can acquire Anadarko Petroleum. Below is from another article.
Occidental agreed earlier this year to buy Anadarko for $38 billion, a deal which includes $10 billion in financing from Buffett’s Berkshire Hathaway.
You can Google Occidental Petroleum/Warren Buffet if you want to read more about Buffett’s investment.
I would like welcome our new readers. Most of Main Street beats Wall Street is teaching option trading. However, make sure you read all pages of Wealth Builder. If you have any questions send me an email.
Just a reminder, all positions bought for a Wealth Builder portfolio were funded from my trading.
Successful trading,
Steve
The Options Coach