Jim Rickards & Rick Rule: Tail risk implications of drop in oil & Russian ruble
The Russian currency plummeted Tuesday, losing as much at 19 percent to make it more than 50 percent this year, even after the central bank spent more than $80 billion on intervention. Erin weighs in. Rick Rule, CEO of Sprott US Holdings, tells us whether earnings in the upstream oil sector can hold up with hedges in place, and where buying opportunities in the natural resources space outside of oil lie. Jim Rickards, author of ‘The Death of Money’, gives us a roundhouse commentary on the stresses buffeting the global markets right now, including the drop in oil prices, the currency crisis in Russia, and the weakness in Chinese manufacturing data and economic growth. And in the Big Deal, Erin and Edward Harrison discuss tail risk with an eye to fractals, power laws and fat tails.
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