Friday 11 September 2015

Goldman Sachs OIl preditions fund

http://www.thepeoplesvoice.org/TPV3/media/blogs/blog/40/goldman_sachs_eye40.jpg



Here the latest Goldman Sachs pontification on future oil prices:

Oil could be at $20 next year.

In 2008, right before the price of oil collapsed, they said this:

Oil super-spike will move it past $200.

It is worse than a 10x differenc really because we should add in the big dollar depreciation of around 10% in the last 8 years.

Really, if there is one thing I know, it is that Goldman Sachs know nothing about predicitng Oil prices; though perhaps they know a little bit more baout how to generate headlines.

Still, a very evil company encouraging bad investments, so not much change there.
 

6 comments:

Steven_L said...

Another thing that's persuading me it's time to take a long Shell position!

dearieme said...

In modern inflated currency, what's the old two-bucks-a-barrel equivalent to?

Suff said...

I can't believe anybody takes any notice of these predictions, never mind large chunks of the media giving 24 hr coverage. An investment ( sick) company announcing its strategy would be like a poker player showing his cards before the betting starts. If your not in the club, your one of the saps

CityUnslicker said...

Exactly Suff!

dearime - OIl was at $10 a mere 20 years ago. who knows what $2 oil was...my hunch would say around $40.

CityUnslicker said...

Exactly Suff!

dearime - OIl was at $10 a mere 20 years ago. who knows what $2 oil was...my hunch would say around $40.

Anna Schafer said...

Preparing an effective resume is a unique challenge because of the length that can make the resume boring and lose some important data. Therefore, you should try prioritizing your unique experience and skills on offshore work to be presented at the top of your resume.crude oil jobs