Saudi Arabia’s Oil Stock Gambit

It's the basic successful investment rule: buy when everyone is selling and sell when everyone is buying. The rule has been proved right by many a legendary figure in the investment world. Now that they've crashed energy markets the world over, it's the turn of OPEC's sovereign funds to go on a bargain hunt.  But can they all afford it? Earlier this month, the Wall Street Journal reported that Saudi Arabia's sovereign wealth fund—the Public Investment Fund—had been buying stocks in European oil majors, including Shell, Eni, Equinor,…