Speculation might be the root of all evil as proclaimed by Gordon Gekko in the iconic business film, Wall Street – but making a prediction is turning out to be profitable for some investors following the unstable salmon market.
Portfolio manager Jan Petter Sissener claims he predicted the salmon spot price would crash from its EUR 8 per kilo peak to EUR 6 per kilo – and believes the market is still in free fall.
“We saw that the salmon price was as high as it could come. We expect it to fall to 50 kroner (EUR 5), and then there is more downside in the shares,” he told Dagens Næringsliv
Sissener said he has invested more than NOK 80 million (EUR 8 million) on the salmon price’s decline.