Several years ago, I correctly forecast that deep water drillers are doomed. Now, it's the shale oil companies' turn. Investors need to run from shale stocks as fast as they can.
We are about to see a massive wave of shale oil bankruptcies by thieving executives who have borrowed against assets and paid themselves bonuses for years without regard to shareholder value.
That will not be the worst insult. Most of the companies will not liquidate in bankruptcy. The majority will come out of bankruptcy with new shareholders led by major debt holders, private