Making a call on the price of oil

Dennis Gartman said that oil will never trade back above $44 in his lifetime.

We really don’t like absolute calls on arbitrary issues. Unless you can mathematically prove a fact, these are foolish calls.  This may be the worst call anyone will make in 2016 – it took about 45 days to be proved completely wrong.


The USD has fallen very far, very fast (over 15 cents since January 20th) it is worth looking at re-purchasing our USD sold earlier in the year, we are now examining this call.




The opinions expressed in this report are the opinions of the author and readers should not assume they reflect the opinions or recommendations of Richardson GMP Limited or its affiliates. Assumptions, opinions and estimates constitute the author's judgment as of the date of this material and are subject to change without notice. We do not warrant the completeness or accuracy of this material, and it should not be relied upon as such. Before acting on any recommendation, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. Past performance is not indicative of future results. The comments contained herein are general in nature and are not intended to be, nor should be construed to be, legal or tax advice to any particular individual. Accordingly, individuals should consult their own legal or tax advisors for advice with respect to the tax consequences to them, having regard to their own particular circumstances.. Richardson GMP Limited is a member of Canadian Investor Protection Fund. Richardson is a trade-mark of James Richardson & Sons, Limited. GMP is a registered trade-mark of GMP Securities L.P. Both used under license by Richardson GMP Limited