T2 Partners has recently established a modest (4-5% of our funds) position in BP, and the blowback has been unlike anything we've encountered in our careers - and being value investors, we've owned a lot of unpopular stocks over the years! This blowback, combined with hysterical headlines, rumors and speculation, have not shaken our confidence, but rather reinforced it, as we love buying when other investors are panicking.

To read why T2 Partners is long BP, click here.