NEW YORK (Real Money) -- When you make a loud public call like I have on the long-term future of energy you can expect to hear from those who think differently when the trade is going in their favor. I have heard lots of "I told you sos" and "What were you thinking?" type comments in the past few days. I could explain that I have always said to stay small and move slow, so my energy positions are small relative to cash in my portfolio, or point out that I have always expected energy to be a long bumpy ride, but that's really a waste of everyone's time.
I have said that oil will go up over the long run and oil stocks will make you a lot of money over the next decade. I still think so. In the short run, however, oil prices are dropping, the world is ending and most of my oil stocks are down quite a bit.
I have no idea where oil prices are going, but I am pretty sure that out at Mr. Womack's farm the truck is warming up as our pig farmer friend heads to town to buy some oil stocks. Oil stocks are finding no love among investors, and that is usually an opportunity for long-term value investors to get some money to work at very favorable prices.
Yesterday, I talked about finding the ultra-safe and cheap in the oil patch and starting with those stocks. Another thing investors interested in this space should be doing is closely tracking insider buying in the industry since oil prices collapsed. As oil stock prices have tumbled in the past week, several industry executives and board members have cracked open their check books and bought shares of the companies they manage and oversee.
There have been some interesting purchases in the past week.