Monday, August 6, 2007

Value added research???

For those who say Wall Street doesn't ring a bell at the bottom, Oppenheimer this a.m. just cut Valero (VLO 60.77, down from 78.68) Exxon (XOM 81.15, down from 93.62) and Tesoro (TSO 43.30, down from 64.56), from Outperform to Neutral.

Thought it would be good to post this "timely" call, so we can check back on it a few months (or even a few weeks/days) from now. We'll see if it's "value-added" or "value destruction."

I'll bet on the latter. But Wall Street may not want to hear that!