As you may know, I am no economist – I am not even an aspiring economist. My thoughts on the profession of economics are well known. However, I do like data and I do like asking questions about the data I find. I was reviewing the performance of a basket of commodities over the last…
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Funny how some things stand the test of time.
It’s not just the more widely traded “food” related commodities that have been on a tear. I have always regarded milk as a legacy contract leftover from days gone by but it has done extremely well over the past year.
PS: I have a very vague recollection of a trader in the 1980’s being caught in a similar manner with copper.
One of the issues I have with technical analysis and its more die hard adherents is that they assume they are making a prediction when in fact they are making a bet. This might seem to be a mild quibble of a simple matter of definitions but the two words carry much different meanings both…
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