By: alberta on Mercoledì 30 Marzo 2011 18:18
Stock:
Goldman Sachs Group
Pensate che il Petrolio salga ancora ????
bene, allora comprate GS...
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First, we have Goldman Sachs(GS_). For very obvious reasons (mostly because it makes so much damn money trading oil), Goldman has been very careful about the way it talks talk about speculation in the oil market.
In 2008, at the height of the first oil boom, Goldman clearly stated that speculation had nothing to do with rising prices. The subsequent bust in 2009 forced them to recant that blanket statement, although it's done it exceeding carefully, only admitting to a $9.50 speculative premium even at the height of the boom in 2008, when oil reached $147 a barrel.
It makes these insanely conservative estimates using the CFTC's commitment of traders reports and some black magic calculations of what effect each reported non-commercial holding has on average price, figuring that each million paper barrels of speculative holding delivers an eight-cent premium to oil's price.
Don't ask me how it comes up with that number: Remember we're talking Goldman here, so it must be right.
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meditate gente meditate