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Did Christopher Pyne Buy Santos Shares???

Ok, a couple of years ago, Australian National University sold their shares in Santos…

And another company, but that’s not the point…

Ok, I can look up the other company too, but I suspect that nobody else will do it, just like nobody else has done what I just did…

Which is look up how much Santos has dropped since then.

Anyway, various Liberal ministers – Pyne included – attacked the University for selling out Santos.

Yep, as I’m fond of pointing out: “The struggle of man against power is the struggle of memory over forgetting.” (Milan Kundera)

So, should the university have kept their Santos shares? Did any of the Liberals take advantage of the low, low price and buy in when they were a lot more expensive than they are now?

Or did they just criticise the university because institutions where their natural brilliance isn’t recognised, just doesn’t understand how clever they are?

Mm, I thought the point of investing was making money.

Buy shares in banks. Or the ASX. They make money whatever happens…

Mining stocks…

Not so much!

(Rossleigh would like to disclose that he has never been silly enough to buy shares in companies that have no future, like companies involved in coal.)

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  1. Douglas Pye

    … aaah Ross …. the noble art of musing (and rummaging around) can be a little lost in many circles these days … nice work! Thank you for the Sat night entertainment.

  2. John Kelly

    Who bought what, when where and how? Does the Easter bunny smoke pot?

  3. Matters Not

    Buy shares in banks. Or the ASX. They make money whatever happens…

    make money whatever happens? Not sure about that The punters running for the exit doors since May 2015 and therefore ‘crystallising’ their losses might question that claim. (And it will get even worse in the foreseeable future. BTW, smart investors recognise that downturns always provide buying opportunities.)

    As for ‘coal’, it’s done and dusted. I note that Adani claims to want to open up a new coal mine(s) in the Galilee Basin which will involve considerable ‘investment’, while it expresses no interest whatsoever in buying existing ‘for sale’ mines which smart companies realise are now ‘stranded’ assets.

    As Education Minister, Pyne claimed to be a ‘fixer’. His failures ensured he was ‘fixed’ with the arrival of Turnbull.

    Now he’s so confused, he’s not sure whether he’s an Arthur or a Martha. Not sure whether he ought to be ‘fixed’ or not.

  4. Sen Nearly Ile

    hahahaha one can only hope:
    that he and his ‘bought’
    that robb promised subs in the fta
    that xenophon stands a candidate against him.

  5. Domenic

    As far as I know, Santos doesn’t deal with Coal, except for coal seam gas. Their two main products are Natural gas and oil, which are fossil fuels but not as awful as coal, and which are likely to continue being used due to the enormous number of homes using gas for heating and cooking,and the majority of vehicles running on LPG, Petrol, and diesel.
    In my limited research (And if there is someone better learned in this, please do add/correct) the reason Santos is tanking in its share price is that the management hedged a few bets on a large loan for a project, then the price of oil nosedived due to a power play by Saudi Arabia, making the project the loan was for much less profitable. Santos then returned the loan, which after the effort they went to getting it, seemed very worrying for investors and caused investors to pull out (Like ANU) which caused the share price to lower, and coupled with the now lousy price for a barrel of oil, meant Santos had to pull in the reigns to stay profitable. If it costs $60 to mine and sell a barrel of oil from a certain well, then it’s fine while a barrel is worth $100, but if it’s only worth $65, then it would be better business to leave it there till you make more than $5 off it.
    They still sit atop a massive amount of oil and gas. If they can keep going until the price of oil comes up, the share price will recover, but it will be very rough to keep profitable and theres a good chance they wont be able to keep afloat till then.

  6. Rossleigh

    All right, Matters Not, suggesting that banks make money whatever happens may have been a slight exaggeration…

  7. JeffJL

    I plead guilty to buying Santos (and Woodside) when oil was at $45/bbl. Ouch.

    I did dump my BHP shares though.

  8. thebustopher

    @Domenic, Santos DOES have some interests in coal mines, but their problems are manifold. With Oil and Coal prices falling, so to go CSG and LNG prices. This is because the commodities are reasonable substitutes. An old coal-fired power station might get another five years of use before a company replaces it with a lesser-emitting gas plant now. Another factor is in losing the Carbon Tax, which makes older coal fired stations formerly on the brink still viable, and so companies delay investment in newer technologies. Santos and other frackers also have the problem of not obtaining a social licence for their operations, and the cost of public protest is having to be factored in. Investors might prefer to buy stocks in energy sources like wind farms and solar plants, as their long term viability is more certain.

    @Rossleigh: putting money into bank SHARES always makes you more than putting money into banks.

  9. Pingback: Sorry Saga of Santos CSG – Mark Anning @1EarthMedia

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