There's money to be made in oil, if you've got the psychology to wait it out

Forager made a lot of money in mining services over the past couple of months. We came to the space after share prices had been hammered, with a cool, calm and rational view of the sector's many problems and the value on offer. Some days we couldn't understand why others were selling businesses at such beaten down prices. But we only had to look at our own international portfolio to understand why. We've owned some oil services companies that we thought were cheap since the oil price was north of $100. They've been hammered and it's us on the other side of the ledger, sitting there as owners of these businesses that we wish we'd never bought. We're tired. We're sick of them and we're finding it hard to get excited about the space. As I explain in this video, that's exactly the sort of psychological environment that creates opportunities

Steve Johnson
Founder & Chief Investment Officer

Steve began Forager Funds in 2009, and now manages approximately $470m across two funds. Offering a listed Australian Shares Fund (FOR) and an unlisted International Shares Fund, Steve focuses on long-term investing in undervalued companies.

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