Heading Out

Seeking the winds that help to sail on Shakespeare's tide.

Wednesday, February 23, 2005

Oil & Ignorance

I am, I suppose, somewhat surprised and increasingly disillusioned about the knowledge of our stock market advisors, as the oil problems continue to become more evident. I have mentioned before the very negative suggestions that I got when I finally decided to put some of the retirement funds into buying a small amount of oil company stock, from a local broker. It was not until it had gone up more than 20% from when I originally suggested to him that I buy a little, that he thought that it might be better to buy than to sell. Now I see Kevin Drum quoting Morgan Stanley that maybe oil prices will go higher this year, and only get back down to around $35 a barrel perhaps in 2006. Perhaps they can't do arithmetic, maybe they never read Dickens, whatever the excuse I must confess that the word "financial advisor' is very rapidly losing the gilt it might once have carried.

Rumor has it there will be 13,000 folk meandering around the Opryland Exhibit Halls tomorrow. Well I guess with a 3 pm flight and a 9 am start I am going to have to walk fast to see all the exhibits, which also this year have stretched out into one of the parking lots. And given that the couple in the next room are still quite active - even as I write - perhaps I should grab some sleep when I can.


At 8:31 PM, Blogger kleinooo said...

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I have a IRA Distribution site. It pretty much cover IRA Distribution related issues related stuff.

Come and check it out if you get time :-)


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