Oil Prices v Google Search Volume for "Speculators"
Oil prices have fallen, along with the Google search volume for "speculators," see chart above (click to enlarge).CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Monday, November 03, 2008
Oil prices have fallen, along with the Google search volume for "speculators," see chart above (click to enlarge).About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
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6 Comments:
I bet you it also mirrors the decline in demand as we transition from summer to winter that happens every year.
I appreciate you posting that, Mark. I've been trying to figure out whether the Google trends search data can be useful. Here's a link to a live data set plotting jobless claims vs a google "layoff" search:
http://www.qdsanalytics.com/2/default.asp?t=23&rptid=22
I guess we will find out how predictive it is.
If speculators control the price of oil (and other commodities as well) why aren't they getting the "blame" for the drop in the price of oil?
It was those durned spculators what done it!
I always like the term speculators and then the same group touts "Buy and Hold" for the long term. If one is buying an investment they surly wouldn't do it with the intention of losing money.
> I always like the term speculators and then the same group touts "Buy and Hold" for the long term.
Yeah, 'cause paying the storage costs of oil that has been bought, while waiting months for it to climb again, is SOOOOO much cheaper than selling it at less than spectacular profits, or even taking a fixed loss which can be written off THIS YEAR against those same excessive profits.
Uh, yeeeeah.
Do you use IV drugs, or are they ingested, or is it inhaled? Just wondering.
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