Why Suncor’s 50% Rally May Not Be Over

My Wall Street Journal colleague Spencer Jakab made an astute observation last week: The only people who seem genuinely happy in this environment are energy investors. When oil and fuel prices are part of what is making investors nervous, owning the companies selling the oil and fuel is a pretty good hedge. Charles Gave at Gavekal argued last week that running a portfolio without energy exposure right now is “worse than a crime; it is a mistake.”