Understanding The Secular Commodity And Stock Cycles And What They Mean To Investors

For many investors, commodity stocks are a bargain. They have declined 40% to 60% from their highs in 2014, their valuations are very favourable and the world still needs natural resources to grow. All of this points to higher price levels in the months to come and a promising opportunity for the long-term investor. However, for students of history, this unwavering belief that commodity prices must come back “has all happened before”. For example, when the last commodity...