Home › Forums › Financial Markets/Economics › Oil *was* a bubble › Oil wasn’t and isn’t in a
Oil wasn’t and isn’t in a bubble.
Rich was and remains correct.
Oil has simply been hit with extreme demand destruction, deflationary pressures due to global economy recession / depression.
If you’re smart, you’ll stop ripping Rich and you’ll focus on spotting the right price to buy oil stocks at fire-sale prices.
I shorted oil and made money. I haven’t started buying oil stocks yet, but I will soon.
Oil company stock prices just fell today to about 8X earnings. Russian oil stocks are said to be near 4X earnings.
Besides gold, OIL will be the other sure bet that the bottom of this recession offers us!
