In 2013-2014, many investors bought energy stocks because they paid 5%-9% dividends. With central bank rates at 0%, we explained to investors that there was considerable risk with holding energy stocks. Few believed us. Oil subsequently declined 40% producing enormous losses for these investors.
In this issue we specifically state the risks that few people see or want to believe exists. And we introduce the IceCap Bubble Meter.
As always, we’d be pleased to speak with anyone about our investment views. We also encourage our readers to share our global market outlook with those who they think may find it of interest.