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The epic collapse in the price of oil, from more than $100 per barrel less than two years ago to below $30 earlier this past week, has crushed investors in the futures market, energy partnerships, high-yield corporate bonds and the shares of oil and gas companies. Regards, Ted http://blogs.wsj.com/moneybeat/2016/02/05/the-oil-routs-surprise-victims/tab/print/
I think there will be a lot more surprises when countries which are dependent on oil revenues start to default and half of the oil industry and the banks and other funding sources go under. Prices would need to at least double to prevent this and I doubt it will happen soon enough. Note that there is little to no insider buying or acquisition activity yet meaning nobody "in the know" thinks this is a good time to buy, and this is among the perennial optimistic oil execs.
"Note that there is little to no insider buying or acquisition activity yet meaning nobody "in the know" thinks this is a good time to buy"
How many of those 'in the know' sold or shorted the oil market when oil was more than $100 per barrel? If they didn't think then that it was a good time to sell....they probably won't know when it is a good time to buy, whenever that time comes.....
On one of Bogle's jobs in the finance industry, one of his co-workers said to him: "Bogle....nobody knows nothin' " Forecasting has been a washout...... Joe, you may be right about everything you say....... I really have no idea what will happen to the price of oil in the future
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How many of those 'in the know' sold or shorted the oil market when oil was more than $100 per barrel?
If they didn't think then that it was a good time to sell....they probably won't know when it is a good time to buy, whenever that time comes.....
On one of Bogle's jobs in the finance industry, one of his co-workers said to him:
"Bogle....nobody knows nothin' "
Forecasting has been a washout......
Joe, you may be right about everything you say.......
I really have no idea what will happen to the price of oil in the future
Cheers