Jeremy Grantham on Oil

Sunday, October 11, 2009

In a recent interview Jeremy Grantham talked about the NYMEX Crude Oil Futures market and here is the transcript of the most important parts of that interview:

"(...) But what people underestimate, even in the oil industry, is how volatile the asset class is. In other words, if the trend is 65 dollars a barrel, it is fairly routine for oil to sell below half, say 30 dollars a barrel, and more than double, say 145.

And people never get that. So you don't want to be too quick to buy into weakness or sell into strength, necessarily. But it can go a long way. But below 40, I must say, I do get a bit interested. And below 30, I'm definitely a buyer." Jeremy Grantham

Watch the full Jeremy Grantham video interview with Steve Forbes here.

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