Jeff Rubin, of CIBC World Markets, predicts in a guest column in today’s Report on Business (no available online) that the TSX will hit 18,000 by the end of the decade, driven by bullishness in the energy sector. He says that energy stocks are currently pricing in $40-range oil and $5-range natural gas prices. CIBC, of course, recently predicted that oil could hit $100 a barrel by 2010. Mr. Rubin argues that the energy sector weighting will grow from the current 25% to as much as 54% of the TSX composite index.
The frenzy in the energy sector makes my recent decision to lighten my exposure to the sector look dumb. However, I still think it was prudent to take the profits.
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3 responses so far ↓
1 Anonymous // Aug 25, 2005 at 2:38 pm
thought the hurricane headed for the gulf of mexico today or tomorrow may drive skidish oil prices up again.
coolharbor
2 Jose Anes // Aug 26, 2005 at 11:31 am
Good Luck TSX
Money and Investing
3 Anonymous // Aug 29, 2005 at 8:10 pm
You are about as dumb as the guy who sold Nortel at $48. Five years later he looks kinda smart.
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