LIVING OFF DIVIDENDS & PASSIVE INCOME

Recently ConocoPhilips(COP) announced that it was going to walk-away from its investment in Venezuela. President Chavez had indicated that it was going to take-over COP’s operations in the Orinoco Valley. Rather than waste time with negotiating with a tinpot dictator and get pennies on the dollar, COP just decided to walk away.

It’ll probably just write off the entire $4.5 Billion as a loss. For some reason, the stock hasn’t reacted badly to this news at all. Today it gapped up and is trading at an all time high of $80.62!

Pretty interesting. If a loss of $5 Billion and future revenue won’t drop a stock, I wonder what will?

The stock has nearly quadrupled in the past 5 years. I was hoping bad news would drop it a little bit and provide a good entry point.

• Good News For Canroys? I'm a big fan of Canadian Royalty Trusts, also called Canadian Income Trusts or Canroys. But lately, they have been under a lot of selling pressure. Coupled with the sell-off in global equities is the overhanging tax change that the Canadian government implemented last year. According to the change, canroys......
• Berskshire Hathaway Splits 50-to-1 Today the baby Berkshires (BRK.B) split 50 to 1. And it's up 4%! This was to be expected. The stock is now affordable to many small investors and there is talk about it being added to the S&P500 index. When the stock split was first announced, I had a brilliant......
• Is The Economy Recovering? Had dinner last night with an old family friend at a fancy restaurant. One of the topics that came up for discussion was the stock market and whether the recent rally was sustainable. While I didn't have any concrete information about the numbers, I felt that the rally in the......

• Dividends to be lower as UK public companies shore up their reserves. Payouts to shareholders will be few and far between in the UK this year, with prediction that the UK leading publicly listed companies will be cutting back up to £8 billion compared to 2008. The move comes as these company's take whatever steps necessary to repair their cash balances that......
• Gates No Longer Richest and Why You Can't Keep All Your Eggs in One Basket Forbes reported earlier in the month that Bill Gates is no longer the richest man in the world. That honor now goes to Warren Buffett. That's right Bill, you're no longer #1!! In your face! Haha...can you see me catching up to you?!? Are you scared? Somehow I don't think......
• TARP Tax: Taxpayers Getting Some Wall Street Bonus Money? It's been a while since I talked about my beloved banking industry.  But we're back in the news again with a proposed tax from Senator Webb of Virginia on bonuses to TARP banks. Do you remember like a couple of years ago there was this huge financial crisis?  The Treasury......

[All content is copyright of Living Off Dividends & Passive Income]

Random Posts

• May 9, 2007 -- The Answer Is Yes.
• March 24, 2009 -- How Geithner’s Plan Will Cost The Taxpayer (Yet Again)
• July 16, 2008 -- Fannie Mae & Freddie Mac Collapse
• January 27, 2006 -- Cash-back on American Express
• January 30, 2010 -- Best Trade of 2009
• November 1, 2006 -- Escaping The Rat Race
• August 29, 2006 -- Amazon Launches Affiliate Bookstore