Stockhouse & Why to Buy ENG

An online friend told me about Stockhouse, which appears to be a very active community of investors discussing the stock market. Amongst stats, news, and such, they have a forum dedicated to just about every single stock symbol, where people share their rumors, facts, hunches, etc…

My friend believes that EnerGulf Resources (ENG.V) is an amazing buy for the following reasons:

(1) ENG will start drilling early March.
(2) ENG found the biggest virgin oil find on the planet! 6 BILLION barrels worth.
(3) ENG has done seismics – 2D, 3D and chemical tests.
(4) The Russians know there is oil there.
(5) ENG’s find will push the peak oil problem 50 years into the future and make a lot of people rich who own the stock.
(6) ENG also owns 90% of the Hartman Project.
(7) ENG is just waiting on getting the Congo Decree and the ok to drill.
(8) It is just south of the Kunene project and there is even MORE oil there!
(9) Some predict it could be a stock that is worth $100 - $500/share.

Judge for yourself. Hell if I know if any of these statements are accurate. I asked people on the forums to confirm these statements here. The stock is at roughly $3.40/each today, so let’s see where it goes in the coming days/weeks/months/years.

Berkshire Hathaway 2007 Annual Report

Warren Buffet should be publishing his 2007 report very soon… check here.

========================

Warren Edward Buffett (born August 30, 1930, in Omaha, Nebraska) is an American investor, businessman and philanthropist.

Often called the “Sage of Omaha” or the “Oracle of Omaha”^[2], Buffett is currently the largest shareholder and chief executive officer of Berkshire Hathaway. With an estimated current net worth of around US$56.9 billion,^[1] he was ranked by Forbes as the third-richest person in the world as of April 11, 2007, behind Carlos Slim Helú and Bill Gates.^[3]

Buffett is known for his unconventional style and frugality despite his immense wealth.^[4] His 2006 annual salary of about $100,000^[5] is tiny by the standards of senior executive remuneration in other comparable companies,^[6] and when he spent $9.7 million of Berkshire’s funds on a business jet in 1989, he jokingly named it “The Indefensible” because of his past criticisms of such purchases by other CEOs.^[7] He continues to live in the same house in the central Dundee neighborhood of Omaha that he bought in 1958 for $31,500^[8], today valued at around $700,000.^[9]

Buffett is also a noted philanthropist. In 2006, he announced a plan to give away his fortune to charity, with 83% of it going to the Bill & Melinda Gates Foundation.^[10] The donation will amount to approximately $30 billion, at the time of the announcement enough to more than double the size of the foundation.^[11] In 2007, Buffett was listed among Time’s 100 Most Influential People in The World.^[12]