Investing in precious metals 101

Peak Oil: 1 Hour Interview w/ Matt Simmons & Dr. Hirsh

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  • Thu, Dec 18, 2008 - 06:47pm



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    Re: Peak Oil: 1 Hour Interview w/ Matt Simmons & Dr. Hirsh

The ever mysterious r101958 wrote: "From what I understand, Simmons is already well to do many times over," to which

Chris K replied: "I agree.  The guy is very well off.  I seriously doubt making more money is his motive."

It’s not clear cut, but if he is so well off as to be of pure motives, maybe you could venture a guess as to how someone who (serving as "Investment Bankers to the Energy Industry ( )") has done this:

"During 2007 Simmons closed 49 M&A transactions worth $26 billion and co-managed 10 offerings worth $4.9 billion. The firm’s clients range from small, privately held companies to multi-billion dollar public entities,"

 should feel about the price of oil getting whacked enough to render evey deal underwater by…50+%?

If the Guru of petroluem investments couldn’t anticipate the gyrations that Hirsch predicted, and couldn’t give his clients better entry points than those accessed in ’07/’08, he’s not nearly as smart as he said he was; perhaps if he were to listen when other people are talking (Hirsch, for example), he wouldn’t have drowned his ’07/’08 clients in oil…

Of course, the game’s not over and the clients may win in the end. But, Hirsch could have advised them much more profitably.

Of course you’ve all seen this:


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