Complacent investors who assume there will be a swift resolution to the Iran war are making a high-risk bet given how bad surging oil prices typically end up being for stocks, according to strategists at JPMorgan Chase & Co.
The team, led by Dubravko Lakos-Bujas, said investors are failing to price the potential economic damage from soaring energy costs, despite the fact that four out of five oil shocks since the 1970s have led to recession.
