, Columnist
How to Lose 90% of Your Money in 14 Years
Retail investors ignored the warning signs on betting on oil prices, and will continue to do so unless the alarm bells ring louder.
The world can only store so much oil.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
The freedom to dabble in financial markets is a luxury few can afford in times like these, with the virus crisis unleashing a crippling recession, soaring unemployment and a rise in mortality.
Some who have this freedom seem eager to fritter it away on complex and costly bets on an eventual oil price recovery, which, so far, have been an excellent way to part punters from their cash. Handling a barrel of crude is risky and dangerous work, but so is trading on its price from home.