Out with the old, in with the new...

Today I traded out my shares of SD for a new position in CNQ.  Specifically, I sold all 4000 shares of SD at $6.46 (for proceeds of $25,835), which isn't bad considering I just bought them in April at $4.93.  I then purchased 850 shares of CNQ at $31.36 (for a total outlay of $26,661).  Unfortunately I don't have time for a full write up, but here's the elevator pitch...

Management is extremely talented and well aligned with shareholders.  If you have spare time read about Chairman Murray Edwards, he's the real deal.  Furthermore, I think CNQ is a high quality company (at least compared to other E&P's) and is selling at a compelling valuation.  In other words, at current prices I think CNQ is a much better risk-reward bet than SD.  Anyway, that's it for now, wish me luck!

Questions?  Comments?  Email mevsemt@gmail.com