Bargain Hunters Stymied as Oil Rout Offers 1 in 6 Odds of Profit

Bargain hunters looking to profit on the latest oil rout might as well roll a six-sided die.

Only one in six of the stocks and bonds issued by North American energy producers since the start of the year appreciated in value, according to data compiled by Bloomberg.

“People’s expectations were that prices would get better as the year went on,” said Chip Hodge, who oversees a $12 billion portfolio of natural resource bonds at Manulife Asset Management in Boston. “People are now trying to figure out how low it will go and how long it’s going to stay this way.”