The founder of a $1 billion energy fund shares why buying on the dip is the wrong investment strategy in this oil price downturn

· In the past, private-equity firms focused on energy have used a simple approach to investing: "Buy on the dip."
· But after the last downturn, starting around 2014, many of those investors got burned, according to Adam Waterous, the founder of a $1 billion energy investment firm. 
· Today, when oil has fallen by about...