Yesterday a reader asked my thoughts on the divergence between the narrative and the plummeting price of oil. I responded with a long rambling e-mail reply which probably missed the target but essentially came down to the "short term" perspective (traders) that is setting the price of oil versus the "long term" perspective (investors) that is setting the narrative.
In my reply I mentioned that I was looking forward to comments by Josh Young on twittter.
Wow, wow, wow. Less than an hour or so of sending that e-mail, this popped up in my twitter feed:
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