I don't care about whether we are the dominant world order, as I'm starting to not believe we are any more anyhow. What I care about is not paying $7-8 per gallon for gas when I had gotten used to $1.89/gallon, and not having to wait in breadlines.
Oil is a tough one, in the sense that during the current time frame (between now and the next 5-10 years) prices can go either way. So, clearly with this push towards the green new deal that looks to combat climate change by creating millions of high-wage jobs in new green industries & transition our energy system towards alternative/renewable forms of energy, oil/gas will become a "thing" of the past. I foresee it slowly going into extinction sometime around 2030-35, as that's the timeframe that most big countries (USA, India, UK etc) & companies have set for full submersion into a zero-carbon reality. The big oil companies know that the writing is on the wall. So, I think it's fair to say that they will aim towards maximizing their profits during these last 5-10 years before the world makes a shift towards electric everything. The way for them to do this is to increase prices and possibly use the eleventh-hour profits to transition into a new industry or even the renewable energy sector itself.
OMR, do you and all these other guys in this thread posting such detailed info work in investments/financing or just learned it on the side? Any good foundational books for investing you'd recommend to learn how to invest on my own outside my 401K?
I am a Certified Public Accountant (CPA) with experience in both financial and managerial accounting sectors + public taxation. I have a couple of business degrees (BS w/ double major in Accounting & Finance + MBA in Accounting + CPA). At this point in my life, I only work doing quarterly taxes for small-moderate sized businesses and also do yearly taxes for a small group of public clientele (people I've known for 20+ years).
There are many day traders here that mess around with standard platforms for trading (TD Ameritrade, Fidelity, E-TRADE, Interactive Brokers etc). There are some guys here that are active retail traders that likely work for some of the big banks (JP Morgan, Citigroup, BOA, Wells, US Bancorp, Goldman). I can tell that much because I've worked for some of the big financial institutions as a staff accountant doing the books after trades and can spot a retail trader from a mile away. I do not believe anyone on here is an institutional trader (I could be wrong), as their language is typically very different from what most retail guys use. Usually, institutional traders are incredibly well versed in finance, macro/micro economics, domestic/international trade and market forecasting. Think of institutional traders as the guys/girls that move heavy volume of money for major financial institutions and hedge funds.
I can recommend some books, but please realize I am an ultra conservative investor. I am not a cowboy or as risky/speculative as some of my friends here within this thread. I am an investor in the market, not a trader. I stick with Index Funds & ETF's via Vanguard. I diversify my portfolio by allocating my funds towards Index Funds, domestic & international ETFs, Corporate & US Gov't Bonds, Hard Assets (Residential real estate), Rent-to-own mortgages between my tenants & I and via whole-life insurance. Notice how I didn't say day-trading, options trading, shorting stocks, because that's what most guys here are referring to and find fun, but it's very risky.
If you still want book recommendations, I can gladly give you my top 5-10 books to understand the financial markets & economics, but consider the source, as I am the grandpa in the bunch here.
"
1"
