Taps Coogan – May 3rd, 2021

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The past year-or-so has provided a badly needed respite for beleaguered commodity and resource investors. In fact, as the following chart from Bank of America via ISABELNET shows, the 10-year rolling return of the commodity sector (as measured by BofA) has only just managed to emerge from the longest losing streak since the Great Depression.

While the current commodity recovery may be over-extended in the short term, the brutal bear market that started in the wake of the Global Financial Crisis was a 100-year storm that has deeply scared resource investors and companies. Precisely for that reason, the current bull market may be just getting started.

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