Investors go all in for oil amid market froth elsewhere
Many are newcomers, drawn by the hope of turning a quick profit on market fluctuations and some seek a haven from inflated assets
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Houston
JOSEPH Gladbach and his fellow bankers at Jefferies Group field three to five calls a day from investors eager to park their millions in energy stocks or bonds in the worst down cycle in 30 years.
They're no dummies, Mr Gladbach says. One of the biggest mysteries of the oil market crash is why the money hasn't dried up. The collapse in crude prices was supposed to devastate companies and spook investors after wiping more than US$200 billion off the balance sheets of US and Canadian producers. It didn't.
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