The Ignorant Investor
Ignorance Can't Stand in the Way of My OpinionFriday, May 23, 2008
More on the Possible Bubble in Oil
From the Telegraph.
The signal to look for before a crash, if this is a bubble, is Jim Cramer declaring that oil is the "must have big money winner."
Lehman's latest report - Is it a Bubble? - says commodity index funds have exploded from $70bn (£36bn) to $235bn since early 2006. This includes $90bn of fresh money. Energy takes the lion's share. Every $100m flow of investment money into oil lifts crude prices by 1.6pc, it said.
"We see many of the ingredients for a classic asset bubble," said Edward Morse, Lehman's oil expert.
The signal to look for before a crash, if this is a bubble, is Jim Cramer declaring that oil is the "must have big money winner."
posted by Worker 17 # 2:03 PM 
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