Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
The New Year’s rapid increase in the BP (BP.) share price has been testimony to some old market truths; buy for book value and buy when the last man has heard the bad news.
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