I want to invest in something local. For interest and because I think there are several good buys. I see SandRidge was down near $15 today. What's the best local stock buy right now?

CHK looks tempting at these levels, so does WMB, but like most publicly traded companies in Oklahoma, they seem to be pretty much following the price of oil or nat gas. Oh, and all the uncertainty makes me think u could find a high yield utility, cuz you'll get something back even if the stock tanks.

SD has gotten pounded this year. I am taking a hard look at that one.

Quest Resources (QRCP) recently dived from 10 to 2.5 after its CEO resigned following an accusation that he had diverted 10 million dollars in corporate funds to his own ends.

I personally bought in at 10, back then, it was still considered a good deal.

Now, I think it's quite possibly a steal so long as nothing else goes horribly wrong. I think the company is at the very least a good candidate to be gobbled up by someone, due to their interests in the Appalachian shale (I think that's where it is).

I would go with SD.

Anyone taking a risk on buying some local stock at these levels?

I know it's a tough market to judge, but how risky could SD be at <$6?

At what level would you buy Devon?

I've bought and sold Baker Hughes (BHI) numerous times and have been happy with my results. They have offices in Oklahoma, does that count?

I bought some SD at around 6.50. That stock is volatile as hell. Up and down 10% a day.

For all you folks out there that use the "how low can it go past a certain level" philosophy, please be careful! I have a list so big from the past ten years of stocks that literally went to zero that I can't remember them all. All of the stocks I bought were touted in some very prestigious places, yet it didn't matter in the end.

Trying to pick stocks right now is not much more than gambling. You cannot trust research any more, because you can't trust CEO's. There is too much fraud in the corporate world. Just be careful out there. This crisis may be far from over!

Trying to pick stocks right now is not much more than gambling. You cannot trust research any more, because you can't trust CEO's. There is too much fraud in the corporate world. Just be careful out there. This crisis may be far from over!

There's a lot of truth to what you say drum . . . especially about upper management.

There are still a lot of small and midcaps out there with heavy founder ownership, and founder or family still at the helm, that are well run, virtually debt free companies. If they are in a solid business not overly dependent on consumer purchases, and their stock price has been hammered down 50% along with every thing else, then they should be a good buy to hold for the next three to five years. Hopefully the the market will return to more of an investors market and get away so much from just trading . . . . trading . . . trading.

This is when the stage is set for serious money to be made IMO.

Of course this is from a guy that had an enormous position in Williams Communication . . .

Michael

Pray For World Peace

Michael,

Did I ever tell about my $ 9000 joke. That's what I called it anyway and it amounts to how much I lost on Enron.

I felt like I was getting a small measure of revenge by walking up on stage, dredging up my best Bob Dylan voice and pretending to be a cellmate serenading Mr. Enron to the tune of "Lay, Kenny Lay. Lay on my big bunk bed..."

I won't do the rest of it because this is a family website but needless to say, Mr. Lay robbed us of that particular satisfaction by upping and dying on us. That BASTARD!"

Michael,

Did I ever tell about my $ 9000 joke. That's what I called it anyway and it amounts to how much I lost on Enron.

I felt like I was getting a small measure of revenge by walking up on stage, dredging up my best Bob Dylan voice and pretending to be a cellmate serenading Mr. Enron to the tune of "Lay, Kenny Lay. Lay on my big bunk bed..."

I won't do the rest of it because this is a family website but needless to say, Mr. Lay robbed us of that particular satisfaction by upping and dying on us. That BASTARD!"

Ah yes, Enron. That was the company I couldn't remember a few days ago, the one touted by everyone as the greatest thing going at the time. It was the only one I didn't buy, but I had about a dozen that all went under, or very close to it.

Williams Communications
WorldCom
JDS Uniphase
NorthEast Optic Network
MetroMedia something or other
Global Crossing
Some satellite firms overseas

There were many others in tech fields, and all were touted by very expensive newsletters with very prestigious authors, and also got good coverage in the top magazines. This type of portfolio went sky-high from 1999 to 2000. My profits were insane, so insane that I actually felt guilty on a couple extraordinary market days. But --- when it hit the fan, it hit hard. The sad thing is, no broker or newsletter or money magazine ever screamed SELL, they ALWAYS tell you to "stay the course"! Well, I'm here to tell ya, don't listen to them. When the profits start to erode, get the hell out! Sit back on your profits and relax to play another day.

All the firms that went belly up had one thing in common, dishonest CEO's who hid the truth from investors and analysts who covered the stock. This meant that the research was as worthless as the stocks were to become.

I don't trust individual stocks anymore, because I can't trust a CEO to tell me the truth, and I don't trust money managers for Mutual Funds, because they're some of the biggest idiots in the world too!

All our grandmothers were right, just buy CD's and don't play that dangerous stock market. They're the ones with small fortunes right now, and the rest of us are wondering if we could cut it at McDonalds.