Schlumberger Limited
Thesis
Schlumberger is included in the portfolio alongside housing exposure due to its potential recovery in the oilfield services sector as demand for capital equipment increases. The company is expected to benefit from the cycle of reordering as the oilfield services industry recovers from years of underinvestment.
Did it work?
inconclusive
confidence: low
The pitch is a long on Schlumberger tied to a broad oilfield services recovery and reordering cycle, but no time horizon is specified, no price performance is available, and no evidence is provided about whether the anticipated recovery in demand for capital equipment actually occurred. Without either a return figure or confirmation of the thesis's catalysts, there is no basis to judge success or failure.