XLE - Energy Stocks 'A Hedge Against Things Getting More Out of Control' In Middle East Says Veteran Investor | Benzinga
Seasoned Wall Street investor Ed Yardeni, in an interview with Bloomberg on Jan. 30, recommended owning energy-related stocks to hedge against potential oil price shocks.
Yardeni highlighted the current geopolitical volatility, particularly in the Middle East, as a factor that could lead to a surge in oil prices reminiscent of the crises experienced in the 1970s.
“Energy is a hedge against things getting more out of control in that part of the world,” he stated, highlighting the potential for turmoil in oil-producing regions to upend markets.
Drawing on the parallels with the oil shocks of the 1970s, Yardeni expressed his concerns about the current global geopolitical scenario: “This situation is reminiscent of the 1970s when we had two geopolitical crises, two oil shocks.”
He highlighted the ...