Why Is Warren Buffet Buying An Oil Stock As Shares Plummet In Value?

Warren Buffet is regarded as a great investor.  One of his investment ideas is that investors should buy when assets are on sale.  This is different from the behavior of many investors who buy when assets are expensive, and sell when they fall in price.  That is a certain way to lose money.  Oil industry stocks have been hard hit by falling oil prices.  Buffet has been doubling down on his large investment in Philips and taking advantage of fire sale prices.  He takes a longer term view in which oil prices will rise along with the value of Phillips stock.  In the meantime, he will collect nice dividend checks that he can use to buy other underpriced assets.  This is a good time for bargain hunters like Buffet.