Who Trusts Investment Banks on Oil?

Well? Do you? How much do you trust banks and their oil price predictions? They do revise them every so often the moment oil prices change direction but not before. How reliable is this?

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Are these trick questions?

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23 minutes ago, Marina Schwarz said:

Well? Do you? How much do you trust banks and their oil price predictions? They do revise them every so often the moment oil prices change direction but not before. How reliable is this?

Goldmans are very reliable I find. When they predict oil over £100 sell oil shares fast. When they tell you oil is going to crater buy them back.

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Yet anyone who follows oil industry developments globally on a daily basis can do that. I don't say this lightly. I'm going to apply for a job at Goldman, then. You hear, @Rodent? I'm doing it.

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27 minutes ago, Marina Schwarz said:

Yet anyone who follows oil industry developments globally on a daily basis can do that. I don't say this lightly. I'm going to apply for a job at Goldman, then. You hear, @Rodent? I'm doing it.

no!!!!!!!! you are way too overqualified.

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1 hour ago, jaycee said:

Goldmans are very reliable I find. When they predict oil over £100 sell oil shares fast. When they tell you oil is going to crater buy them back.

I see this as a more self-fulfilling prophecy.

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41 minutes ago, Marina Schwarz said:

Yet anyone who follows oil industry developments globally on a daily basis can do that. I don't say this lightly. I'm going to apply for a job at Goldman, then. You hear, @Rodent? I'm doing it.

You don't wantto honestly I have contacts there and its not a nice place, they basically own you.

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1 minute ago, jaycee said:

You don't wantto honestly I have contacts there and its not a nice place, they basically own you.

Yeah, something tells me banks are not for people who like to have a life.

18 minutes ago, Rodent said:

no!!!!!!!! you are way too overqualified.

So, should I start my own forecast business?

Sorry, everyone, I'm going down with a very annoying virus and I'm trying to get distracted here. Still, it's a serious topic. JP Morgan just revised down its 2019 Brent forecast and I'm taking bets who will be next. Goldman is playing safe expecting "heightened volatility over the next few weeks." Couldn't begin to imagine why.

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1 minute ago, Marina Schwarz said:

Goldman is playing safe expecting "heightened volatility over the next few weeks." Couldn't begin to imagine why.

Still placing thier bets.

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2 hours ago, jaycee said:

Goldmans are very reliable I find. When they predict oil over £100 sell oil shares fast. When they tell you oil is going to crater buy them back.

You beat me to it!  Good on you.

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1 hour ago, Marina Schwarz said:

Yet anyone who follows oil industry developments globally on a daily basis can do that. I don't say this lightly. I'm going to apply for a job at Goldman, then. You hear, @Rodent? I'm doing it.

Fantastic!  Will you be our inner Demon?  😈

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50 minutes ago, jaycee said:

You don't wantto honestly I have contacts there and its not a nice place, they basically own you.

Demon Schwartz will own them, if she so desires.  Heh-heh.  😈

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48 minutes ago, Marina Schwarz said:

Yeah, something tells me banks are not for people who like to have a life.

So, should I start my own forecast business?

Sorry, everyone, I'm going down with a very annoying virus and I'm trying to get distracted here. Still, it's a serious topic. JP Morgan just revised down its 2019 Brent forecast and I'm taking bets who will be next. Goldman is playing safe expecting "heightened volatility over the next few weeks." Couldn't begin to imagine why.

As far as I'm concerned they are just doing the old pump and dump.  Like selling things (getting people to pay for) that "probably" will happen later, when nobody remembers the sales pitch of today.  I do not trust the banks, especially the massive, too big to fail types like this, and I sure as hell don't trust the banks when it comes to oil.  They are heavily, hugely, incredibly invested in oil, with OPM.  Get more people in, charge more fees, take no risks.  Bad combination.  I'm sure they also have "special" investment opportunities in oil at your local branch or online (although I have no facts to back that up).

To Jaycee's point, or thereabouts, if you work there they will tell you what to sell and you will shut up and sell it, convincingly, or else you are back out the door.

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55 minutes ago, Marina Schwarz said:

Yeah, something tells me banks are not for people who like to have a life.

So, should I start my own forecast business?

Sorry, everyone, I'm going down with a very annoying virus and I'm trying to get distracted here. Still, it's a serious topic. JP Morgan just revised down its 2019 Brent forecast and I'm taking bets who will be next. Goldman is playing safe expecting "heightened volatility over the next few weeks." Couldn't begin to imagine why.

Hope you beat the virus quickly and get back to your old self (I don't mean age) again soon.

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41 minutes ago, Dan Warnick said:

Demon Schwartz will own them, if she so desires.  Heh-heh.  😈

Don't say it. I want to take them by surprise.

Thanks for the wishes and Happy Thanksgiving to all who celebrate!

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10 hours ago, Marina Schwarz said:

Sorry, everyone, I'm going down with a very annoying virus and I'm trying to get distracted here.

Sorry to hear that.  Hope you feel better soon.  And I'll see if I can get you to chuckle a bit after I get settled in today.

 

10 hours ago, Marina Schwarz said:

JP Morgan just revised down its 2019 Brent forecast and I'm taking bets who will be next. Goldman is playing safe expecting "heightened volatility over the next few weeks." Couldn't begin to imagine why.

I'm still hoping for an average of $65 Brent for 2018, and average of $70 Brent for 2019, and an average of $65 WTI for 2019.  But I can be a bit stubborn ...

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$65 Brent seems pretty realistic for this year despite the swings. Next year it could spike a bit after the sanction waivers expire but I guess it'll settle back down quickly enough. We might even see a lower average for 2019 if economic outlooks don't improve.

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