All insights
Commodity Watch: Illusory liquidity
<p>Liquidity is a funny thing. It’s usually available when portfolios are going swimmingly- when gates are open and prices are high. Liquidity is generally a non-issue when investors don’t need it or are not thinking about it. But, when it is needed most, it can be a mirage.</p>
20 August 2025
Commodity Watch: The 4th technological revolution is even more material
<p>Harry Truman said, “the only thing new in the world is the history you do not know.” And so past patterns may help us understand the present and better prepare for change.</p>
12 August 2025
Commodity Watch: A new way to get your chocolate fix?
<p>Commodity directional bets are not for the faint of heart. Just this week, Bloomberg reported that an established hedge fund lost over 50% of its assets under management this year betting on the cocoa market even as supply shortages persisted and demand for the main ingredient of chocolate remained inelastic.</p>
6 August 2025
Commodity Watch: Food Demand – Something Has to Give.
<p>The screwworm is named maneater in Latin after an incident in French Guyana (look it up), but it really wreaks havoc on cattle.</p>
30 July 2025
Commodity Watch: Stargate. Hyperion. Prometheus.
<p>These are not the names of a sci-fi trilogy but the names for some of the largest AI infrastructure projects currently being built for tens of billions of dollars.</p>
21 July 2025
Commodity Watch: Time for a US Copper Comeback?
<p>Steel is still important, but it is not the metal of the future. Copper is. </p>
16 July 2025