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echapps

Mpc Know Nothing About Oil

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Thought this snippet was interesting:

I may have mentioned elsehere that I had the opportunity recently of talking to a member of the MPC about oil, and he was openly honest about the massive knowledge deficit in the city on the subject and the difficulty in getting any sort of collective consensus as to where oil supply/demand is heading. They themselves are on a learning curve and there is little understanding of fundamentals.

http://boards.fool.co.uk/Message.asp?mid=9868623

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Thought this snippet was interesting:

http://boards.fool.co.uk/Message.asp?mid=9868623

What do you expect? They're just a bunch of guys with Firsts in Greats. That doesn't mean they know any damned thing that is useful. I don't suppose they have any real-world technical knowledge at all, and they are probably disdainful of those who do. The City is just the same culture of aloof arrogance found in pre-revolutionary France and any other corruption that sustains its pre-eminence without taking active part in the creation of wealth.

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What do you expect? They're just a bunch of guys with Firsts in Greats. That doesn't mean they know any damned thing that is useful. I don't suppose they have any real-world technical knowledge at all, and they are probably disdainful of those who do. The City is just the same culture of aloof arrogance found in pre-revolutionary France and any other corruption that sustains its pre-eminence without taking active part in the creation of wealth.

Spot on Malco. If you have not read the book referenced in my signature, I am sure you would enjoy it!

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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