“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
Monday, October 26, 2015
Oil: An Unstoppable Game of Chicken, Indeed?
With OPEC countries competing against each other, Russia selling aggressively to China, Iran coming on board, and the Americans fighting hard against relinquishing production--can oil prices fall further?