Thoughts on investing in OIL! Down 43% YTD as of 12/22/2014! (rich, contributing, cheap)
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I have some Canadian oil ETFs as a hedge against a falling USD. I'm Canadian and my unhedged US funds were purchased at an average price of 90 US cents to the CAD. I actually purchased those US dollar funds as a hedge against oil but added too much to them, and now I have to reverse and hedge the hedge. If the negative correlation between oil and the USD breaks down, I'm toast.
You were just complaining that you are throwing money away buying as its been dropping. You are still below your breakeven, but are now hoping it drops more. Learn from your mistakes.
I was averaging and thus not bellow anymore. I got oil for long term (that means year +), it's like a CD with a maturity date. .
I was averaging and thus not bellow anymore. I got oil for long term (that means year +), it's like a CD with a maturity date. .
You really need to learn now, while the market is still a bull, otherwise I strongly believe you will be another bad statistic. It is absolutely nothing like a CD with a maturity date. If only it were that easy lol.
You really need to learn now, while the market is still a bull, otherwise I strongly believe you will be another bad statistic. It is absolutely nothing like a CD with a maturity date. If only it were that easy lol.
I'm saying buying OIL or USO or whatever is not a certain thing. It is not like a CD with a maturity date. It could take years to recover and possibly may never recover. It could drop another 50%, who knows. It is a risky investment and certainly is not risk free or even low risk. There is a reason why every millionaire and billionaire aren't piling their money into these things.
I'm saying buying OIL or USO or whatever is not a certain thing. It is not like a CD with a maturity date. It could take years to recover and possibly may never recover. It could drop another 50%, who knows. It is a risky investment and certainly is not risk free or even low risk. There is a reason why every millionaire and billionaire aren't piling their money into these things.
Let him explain why he thinks buying oil now is like buying a CD first. He may see something that you don't.
I'm saying buying OIL or USO or whatever is not a certain thing. It is not like a CD with a maturity date. It could take years to recover and possibly may never recover. It could drop another 50%, who knows. It is a risky investment and certainly is not risk free or even low risk. There is a reason why every millionaire and billionaire aren't piling their money into these things.
Your saying that you are not certain that oil will trade at least at $65 by year end ?
Yemen, which has fallen into civil war as Houthi rebels tighten their grip on the country, doesn't produce a significant amount of oil. But it borders massive producer Saudi Arabia and lies on one side of the Bab el-Mandeb Straits, a narrow crossing that tankers use to access the Red Sea from the south.
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