Not a bad strategy. You don't necessarily have to wait till expiry, the price will naturally decay over time and you can buy it back cheaper.
I'm with you. I'm tired of all these "watch the birdie" antics while management slips their hands in your pockets.
Sentiment: Strong Sell
Don't see any mention of a war in his comment. Perhaps he was referring to production projects that rely on higher oil prices being cancelled.
The expense ratio (management's cut) of these funds is extremely high at 3%. I wouldn't pay management much more than 1%. Also look out for funds with too much return of capital, means they aren't making money, just giving you your money back.