Below are Evergreen Gavekal’s Likes/Dislikes for September 20, 2019.
In the mid-1950s, geologist M. King Hubbert theorized that “peak oil” would come when the maximum rate of extraction of petroleum was reached, after which the production of oil would enter terminal decline. At the time Hubbert presented his theory, he predicted that US peak oil would occur around 1970. The theory appeared accurate for a time, however, pessimistic prophesies on the future of oil have continued to prove false as world oil production has not only risen but hit a new all-time high in 2018.
Let’s return to one of the most pressing questions facing investors right now, one we also discussed last week: Namely, how probable is a recession this year or next? The renowned David Rosenberg, who was one of the handful of economists to predict the 2007 downturn, thinks the US may be in one now.
Below are Evergreen Gavekal’s Likes/Dislikes for September 13, 2019.
Finally! A “Bubble 3.0” chapter mostly devoted to the stock market! Based on what a complex beast it is, the fact of the matter is there are myriad factors that come into play as to which direction it’s heading.