by James Hickman
Schiff Sovereign
Travis Stice is not one of those rare corporate CEOs who is a household name around the world… like Warren Buffett. But the two share a similar ethos.
Buffett famously quipped, “Be fearful when others are greedy, and greedy when others are fearful,” which was ultimately a nod to the cyclical nature of markets and the economy.
As surely as night follows day, and autumn/winter follow summer, bad times follow good… and then good times follow bad.
Travis Stice understands this cyclicality all too well. As the founder/CEO of a large, pure-play Permian basin shale company (Diamondback Energy), he has seen ridiculously wild swings in the oil market, literally from nearly $150 per barrel all the way down to MINUS $40 per barrel, all within the past 15-20 years.