Oil Prices – Drilling For Bargains In A Value-Depleted Market

Oil Prices - Drilling For Bargains In A Value-Depleted Market by Worth Wray & David Hay, Evergreen Gavekal

“Investing is the only business I know where when things go on sale, people run out of the store.”

-- Former UNC Endowment Chief, Mark W. Yusko

This month’s EVA Chartbook explores the recent corrections in energy and energy-related securities which have collapsed along with oil prices over the past year. As you can see in the chart to the right – which shows the growth of $100 invested in US equity, energy stocks, and Master Limited Partnerships (MLPs) from the 2009 trough to today – these assets have fallen off a cliff compared to the lofty S&P 500.

While sentiment remains extremely...