From: "Gary Britt" 

Well you are entitled to think what you like, but if what you've written so
far is an indication you're thinking is wrong.

I never said the only thing that affects a stocks price is earnings.
However, this discussion isn't about and never has been about the theory of
stock valuation in general.  Its about the false claim that oil companies
are extraordinarily profitable this year.  That claim is false as
demonstrated by their profitability as a percentage of sales compared to
other corporations and is also demonstrated to be false by the fact that
their share prices aren't trading at multiples of earnings that are higher
than normal.

If you want to discuss how stocks are valued in general that's a different
thread, and you'll need to do some more studying if you want to try and
keep up with me on that subject.

Gary

"Bill Lucy"  wrote in message
news:MPG.1e0a10d14bfbd6ed989776{at}news.barkto.com...
> In article , email{at}from_Gary_Britt.org says...
> > I don't know, and I'm not sure how the ROCE figures are calculated (what
and
> > how they have included/excluded items) or what precisely ROCE is an
acronym.
> > I'm assuming slide 14 is on page 12 of the 35 page PDF file.
> >
> > That's why I have been saying the simplest way for us non-oil industry
> > expert analysts to know what the expert analysts think of the oil
companies
> > earnings and profitability levels, is to look at the oil companies share
> > prices and price earnings ratios.  If the experts on all of this
industry
> > jargon and accounting manipulations thought the oil companies were
making
> > higher than average profits compared to other companies then the oil
company
> > share prices and price earnings ratios would reflect that assessment.
Since
> > oil company earnings per share aren't as high as most corporations,
> > obviously these experts aren't all that impressed with the profitability
> > expectations of the oil companies.
>
>
> I think you should have stuck with the first phrase in the first
> paragraph, Gary. Everything after that showed a fundamental lack of
> understanding.
>
>  Just a slight hint -- "Experts" don't always rely on on earnings,
> profitability, or P/E ratios in determining buying or selling of stock.
>
> And, as John points out downthread, oil companies are doing quite well
> re: stock price.
>
>
>

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