It still might not be a good buy, as there is probably almost no limit to how low the Brazilian socialists can take this potentially great company. This should be an example of what a combination of corruption, lack of business sense, and liberalism/socialism can do over the long term. Sound like obama at all? All should be thankful that he will have only eight years and not 20 or 30, as there is still a chance to get the ship headed in the right direction with the next election.
If the socialists would get out of the way and let business people take over Petrobras, this stock could get to $30 or $40 a share, creating a great wealth opportunity for all who buy the stock. But, they'd rather control and regulate (once again, sound like obama?) than give all people (employees, shareholders, etc.) a chance to benefit as the company potentially becomes a world-class company that exports oil all over the world from their Lula oil field. Sidenote: the field was initially named Tupi for the Tupi people of Brazil, but was later changed to Lula, named after former president Lula de Silva. Could you imagine the obama oil field in the USA? No wonder it's underachieving for the Brazilians!
If the socialists would get out of the way and let business people take over Petrobras, this stock could get to $30 or $40 a share, creating a great wealth opportunity for all who buy the stock. But, they'd rather control and regulate (once again, sound like obama?) than give all people (employees, shareholders, etc.) a chance to benefit as the company potentially becomes a world-class company that exports oil all over the world from their Lula oil field. Sidenote: the field was initially named Tupi for the Tupi people of Brazil, but was later changed to Lula, named after former president Lula de Silva. Could you imagine the obama oil field in the USA? No wonder it's underachieving for the Brazilians!