Billionaire Richard Rainwater Goes Long Oil
Posted on October 14, 2008 at 20:18 PM EDT
In May 2008, as oil traded at $129, billionaire Richard Rainwater sold all of the energy stocks he owned. And to many, it was probably one of the worst moves he could’ve made, as oil would soon skyrocket well above $147 a barrel. But what traders didn’t know was that they should’ve followed the [...]
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