Being contrarian has gotten rather confusing with Allan Gray around, from Fairfax:
Oil and gas producers are undervalued and now is the time to invest in those companies with low costs and long term assets to position for a recovery in oil prices, contrarian investor Allan Gray says.
Brent crude oil prices have rallied this year from below $US30 a barrel to almost $US50 this week, but most companies have struggled to survive and have maintained production through debt, Allan Gray analyst Suhar Nayak said.
