To: Joe Smith who wrote (15514 ) 11/22/1999 9:23:00 PM From: Bucky Katt Read Replies (1) | Respond to
Joe, our answer here is just pick the right stocks and enjoy the move. Some may remember early this year when crude was 10, and the Economist magazine had a cover story calling for 5 dollar per barrel oil. I of course knew they were full of it, all of them, and went heavy long futures, and I posted it here, but I doubt anyone bothered to enter a trade. I won't bore you with the % of gain, but it was the best trading I have ever, ever done in my life, and I have been at this since 1971. My reasoning was very simple, at that time, 5 dollar oil meant a meltdown of epic scale for poor oil producers, one of which sits on our southern border. And, more importantly, it meant more dead loans for Western banks, or if you will, a meltdown of Western banking, which was still in shock due to both the Asian meltdown, and the Russian debacle. (remember Long Term Capital Mismangement???) Geopolitical wise, it just wasn't going to happen.($5 oil) It would have been the end of the banking system, they would have fallen like dominos. Like I said, very simple, if you understand who stands to win or lose big.
