By Chris Bailey | Wednesday 1 December 2021
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
I see there is more comedy occurring in the energy sector as yet another company – the wonderfully named Zog Energy – collapsed. I have never heard of it but given I recall ‘Zog’ as a 2010 children’s picture book about a young accident-prone dragon which I think both my daughters at some time read, you have to smile at the choice of its name. Yet another energy company which needs to fully understand that not being sensibly hedged means you can be materially exposed to any price volatility. Meanwhile as Ofgem put it following a collective four million household problem “under our safety net we’ll make sure your energy supplies continue…You can rely on your energy supply as normal”. Far smarter if Ofgem also tells all customers that simply trying to find the cheapest short-term company is not smart. Still, you cannot regulate everything otherwise we would not also have shares that exhibit either too much fear or (more recently) too much greed judging by their crazy multiples. At the moment I am trying to work out which side housebuilding stocks are in.
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