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Commodity Supercycle: The Enemy Of The Bull Thesis

News Snapshot:

Authored by Lance Roberts via RealInvestmentAdvice.com,The commodity supercycle thesis is everywhere right now. Bank of America’s Michael Hartnett, one of the most widely read strategists on Wall Street, recently declared “commodities the biggest trade of the next five years,” anchoring the call on deglobalization, chronic capital underinvestment, and a world drifting away from dollar dominance. As is often the case, the narrative is extremely compelling. However, it’s also internally contradictory in ways that most investors aren’t stopping to examine.After three decades of managing money, I have learned to be THE most skeptical of the trades that feel the most inevitable. That skepticism…

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