Bit of a surprise this, oil is off 3.5% on the Iran nuclear deal decision, but there are rifts in OPEC:
Iran, faced with a possible restoration of U.S. sanctions, came out against higher oil prices, signaling a split with fellow OPEC member and political rival Saudi Arabia, which is showing a willingness to keep tightening crude markets. A “suitable price” for crude is $60 to $65/bbl, Amir Hossein Zamaninia, deputy oil minister for international and commercial affairs, said in an interview Sunday in Tehran. Oil Minister Bijan Namdar Zanganeh said earlier in the day that Iran supports “reasonable” oil prices and is not an advocate of costlier crude.
Iran opposes higher oil prices, signaling divide with Saudis
Interesting, Buffett lives forever, his code is broken:
Berkshire Hathaway’s annual meeting last weekend highlighted Warren Buffett’s special touch as an investor. But with each passing year, some investors wonder what will happen to Berkshire Hathaway’s BRK.B, -0.42% stock performance once the legendary investor, now 87 years old, is no longer at the helm of the company. Fret not. And if the stock falls, you should buy. I say this because of an academic study several years ago that, in effect, “broke” Buffett’s secret code. The study, titled “Buffett’s Alpha,” was written by three principals at AQR Capital Management, each of whom has strong academic credentials: Andrea Frazzini, David Kabiller and Lasse Pedersen. The study derived an investment formula that, if mechanically followed over Buffett’s five-decade career, would have replicated his fantastic returns.
Warren Buffett will live forever, as researchers have cracked his code - MarketWatch