The economist Paul Krugman advances an interesting declaration today inwards the New York Times against the thought that high fossil oil prices are due to hedge fund speculation.
He believes that speculative buying tin Pb to persistent high prices (which has been the illustration for the end few years) solely if at that topographic point is physical hoarding. Yet fossil oil inventory degree has been normal for this period.
Indeed, I convey been trying to honor a mean-reverting strategy to merchandise fossil oil in addition to oil-related assets for to a greater extent than or less fourth dimension now. So far, none convey outperformed (even on a risk-adjusted basis) merely buy-and-hold unloosen energy stocks for the long term!
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