Interesting cover story in Business Week on "Why You Should Worry About Big Oil."
Before anyone leaps to the wrong contrarian conclusion, note that major business news weekly
cover stories are less effective contrary indicators (although they have all had their day in the sun).
Rather, it is
the mainstream press (more than the financial media) that tends to catch the
crescendoing top as a cover story.
For example, this Business Week story isn’t a breathless recap on why
Oil is so expensive ($75 and going to $200!); Instead, it discusses why
the large Oil Cos are vulnerable –despite the huge cash hoards and
Graphic courtesy of BusinessWeek
Recall our prior discussions on Magazine Cover Indicators:
On the other hand, it often works with politics; See the Howard Dean covers, as well as the shrill blonde harpy cover. Broader issues like "Tech is Back!" at Forbes was also a good tell. And of course, the grand daddy of magazine covers was Business Week "The Death of Equities".
(There’s more after the jump.)
Why You Should Worry About Big Oil
Business Week, MAY 15, 2006