My favourite oil stock has almost trebled since 2016 – but I’m hanging on to it

Four years ago in his “trade of the lustrum” Dominic Frisby discovered that the best stock to use to bet on oil is not actually an oil stock. It’s been doing rather well. But it’s not time to sell yet, says Dominic.

BHP Billiton coal mine
The best oil stock is a miner
(Image credit: © BRENDAN ESPOSITO/Fairfax Media via Getty Images)

Four years ago we discovered the word “lustrum”. A useful word, it means a five-year period. We are surprised it hasn’t found more use, especially in investment circles. Decades can be so very long.

It was back in March 2016: we conceived a “trade of the lustrum”. Today, as we do periodically, we check in on the trade and see how it’s doing. We have less than six months to go before expiry. So cast your mind back four-and-a-half years.

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Dominic Frisby

Dominic Frisby (“mercurially witty” – the Spectator) is as far as we know the world’s only financial writer and comedian. He is the author of the popular newsletter the Flying Frisby and is MoneyWeek’s main commentator on gold, commodities, currencies and cryptocurrencies. He has also taken several of his shows to the Edinburgh Festival Fringe.

His books are Daylight Robbery - How Tax Changed our Past and Will Shape our Future; Bitcoin: the Future of Money? and Life After the State - Why We Don't Need Government

Dominic was educated at St Paul's School, Manchester University and the Webber-Douglas Academy Of Dramatic Art. You can follow him on X @dominicfrisby