Being smart with $$ -- Cheap or expensive?

Cheap or rich? WTI Crude Oil was around $100 in the middle of 2014. Today it's down almost 50% from that level.  It sounds cheap now, right? Well, a couple weeks ago it was around $45.  Now it's UP 17% from that low.  It sounds expensive, right?  So is it cheap or rich? The global community of investors says that it's priced exactly right at this moment.  If not, buyers or sellers would move the price.  When you say it's cheap or rich, you're saying you know better than the rest of the world.  That's a bold claim to make.
- Larry Pike, CFA, Client Priority Financial Advisors LLC
- www.clientpriority.com