Energy Bandwagon And Bankers
Dear fellow investors, Q3 2021 hedge fund letters, conferences and more The Energy BandwagonIn 2014, famed UK stock picker Terry Smith wrote a piece, titled Shale: Miracle, Revolution or Bandwagon?, in most ways mocking investors excitement in the oil and gas business in the United States of America. In his writing, Monsieur Smith highlights some of the negatives of the oil and gas business like the amount of energy needed to extract the energy, depletion of reserves in wells, and lastly, investor returns. We love his writing because for that time period, he was right. The most sensitive issue...