I remember overhearing a conversation between two English lads on a ski lift at Whistler twelve months ago. Oil had just gone to $US50 or so. Both were talking as if they were resource traders of some ilk. They agreed oil had bottomed, and they had both gone long (big time)
I sat there on the lift, smiling in wonder at the scenery and at how smart these guys sounded.
Less so, now.
AGM/EGM, page-24
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