Gold tests $1960

IEA Chief Warns Gulf Flows May Take Six Months To Restore After Biggest-Ever Energy Shock The head of the International Energy Agency told the Financial Times on Friday that the world is severely underestimating the scale of the Gulf energy shock, and that it may take at least six months to restore disrupted oil and gas flows. Fatih Birol described the conflict, now in its third week, as "the greatest global energy security threat in history", and said it would take time "to have oil and gas rehabilitated". "It will be six...

Beta: A Powerful But Faulty Tool For Managing Risk Authored by Michael Lebowitz via RealInvestmentAdvice.com, When investors want to reduce risk, one commonly used tool is beta. For instance, an investor may sell higher-beta stocks and replace them with lower-beta ones to cushion against an expected market decline. Such a strategy is intuitive and widely used; however, it can be greatly flawed. We recently received a question from a client about how we use beta to manage our portfolios. Given recent volatility and declining prices, the timing could not be better to...