So long as predictions remain popular, and are so numerous as they are today – and so long as they receive notoriety through repetition in the press and on the radio – contrary opinions will increase in importance as thinking aids. “
April 22, 2015
It’s interesting to hear “experts” in the oil industry expound on the future price direction of oil. Often these interviewed experts are the CEOs of major oil companies. Many say the current price of oil ($50 a barrel) is temporary and will eventually trade back toward $100. But not one was prescient in forecasting the recent 50% decline. ...