Economic Commentary

“Someday financial markets will decline...rising stock/bond markets will no longer be government policy. QE will end and money won’t be free. Corporate failure will be permitted. The economy will turn. Someday, somewhere, somehow, investors will lose money and once again come to favor capital preservation over speculation. Someday, interest rates will be higher, bond prices lower, and the prospective return from owning fixed-income instruments will again be commensurate with risk.” Seth Klarman

Sunday, July 26, 2015

"...no question that North American production of crude oil is stalling...it remains massively elevated relative to last year."

"The ability to bring capacity back online quickly is the reason we saw US rig count unexpectedly increase last week. This creates a natural near-term cap on crude prices, above which production can rise quickly."

Iran:

LINK: Rude awakening for those who ignored the energy markets' warning signs

Economic Commentary

Sunday, July 26, 2015

"...no question that North American production of crude oil is stalling...it remains massively elevated relative to last year."

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