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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: ild who wrote (19157)9/28/2004 5:03:38 PM
From: ild  Read Replies (2) of 110194
 
Date: Tue Sep 28 2004 15:45
trotsky (frustrated@oil executives downplaying fundamentals) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
one of the reasons is that many of them believed the BS Wall Street's oil analysts put out, and are thus hedged up the wazoo - and when you've hedged a good portion of production at $30 bbl., you're naturally not happy to see it trade at $50. it means you were wrong and listened to the wrong advice - and most people don't like to admit they're wrong.
perma-bear Fadel Gheit is now proclaiming that there's a $20 'fear premium' in the price - which is code for 'i was right all along, , or at least almost right - if you take that out'. it's the hedonic indexing and seasonal adjustment of wrong forecasts strategy.
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