[This could also be called “Bullish/Bearish Flip-Flop Gone Wrong Yet Again.”]
Courtesy of Tim Knight from Slope of Hope.
(Originally published here on Zero Hedge.)
I saw this article this morning, and this bit really irked me:
It isn't the fact he's been stone cold wrong. Hell, I've been wrong countless times. But I don't make a point of claiming I had a position that I didn't really have. (To say nothing of trying to deflect one's foibles by attempting to positively associate oneself with "Lord John Maynard Keynes" whom, incidentally, was a pretty dreadful trader too).
Anyway, what's stated above is "We had been, on balance and really quite openly, bearish of crude for the past several years, erring always to sell crude’s rallies rather than to buy crude’s weakness'.
This took only 12 seconds of research on my part…….
Of course, now that he's "changed" to bullish, literally as I was typing this post, the following happened with crude oil:
There's nothing wrong with being wrong (especially if a Line Producer at CNBC will look past her dad's track record), but this sort of sleight-of-hand rubs me the wrong way.
