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End of the decade: Time to gauge investment trends

In assessing an investment cycle, rather than only relying on a set time-frame like a decade, it's good to objectively gauge the move from extreme optimism to extreme pessimism, and back again

Everything in investments moves in long cycles - this is a fundamental aspect of the capitalist economy, and it is exactly what happened to oil.

A DECADE ago, the prevailing investment view was that the world had reached Peak Oil, and oil companies were widely recommended as a core long-term allocation.

Fast forward to now, and energy has been the worst performing sector globally for 10 years. The Peak Oil forecasts unfortunately...