Argonautica

Professional investors can review published thought leadership and market updates from the Argonaut Investment Team.

1 post found for October 2014

‘Yellen and the Coup de Grace for Commodities’

Rather than emerging market urbanisation and economic growth, the commodity super-cycle had its genesis in the prior under-investment in global productive capacity. The boom in emerging markets and particularly Chinese growth merely acted as the catalyst for demand exceeding supply. As investors clamoured to get a piece of the commodity action and re-allocate to an otherwise forgotten asset class, owners of productive capacity were able to finally grow the supply base. Notwithstanding this and the…