Pre-Screen Your Analysts....PLEASE

If Oil Prices Have Hit Bottom, the Top May Not Be Too Far Away

This analyst is an idiot. This is the reason the markets are so out of whack. He says in in this report on 3-14 that the market expects an "Increase in inventories" when the EIA reports its crude inventory numbers on Wednesday (3-16). Well....."Earlier Wednesday, oil prices were supported by the EIA's weekly oil inventory report, which showed U.S. stockpiles increased by less than half the levels forecasted for last week." U.S. commercial crude inventories rose by 1.3 million barrels last week, the Energy Information Administration reported Wednesday. The figure was slightly less than the industry-backed American Petroleum Institute’s tally of 1.5 million barrels. This moron was saying 2.5 million. Since when is ok for your forecast to be off by 100%?

Analysts polled by Reuters expected 3.4 million.

Secondly....This guy says that there are signs of the dollar gaining strength. Well....."The dollar fell sharply against major currencies after the Federal Reserve kept interest rates unchanged but reduced its expectations for interest rate hikes in 2016 to two from four on Wednesday." Also reported on 3-16-16. 

The truth is that these guys don't have a clue what is going on, and are only rolling the dice when speaking about the issues. The media really should consider screening for these guys.

I grow tired of reading and watching what these analysts get wrong everyday. Why not just say, "I can no better predict what will happen, than you." The internet is littered with stories like these that further confuse and create frustration for so many. It's a shame that they don't go back after this and have him back on the show to explain how he was wrong and what he was thinking. Analyst owe everyone a favor by doing a little more research and due diligence before spouting out what they think. You can repeat facts for sure, but when your opinion comes out....make sure it aligns with common sense!