Commodities Are Cheap Time To Leap?
This has been a grim spring for commodities traders. Asia's reeling economies are pummeling the prices of everything from copper to crude, sending the Goldman Sachs Commodity Index down 16% this year to its lowest point since early 1996. But some contrarian investors, perhaps mindful of Warren Buffett's huge bet on silver, are refusing to abandon ship. They argue that Asia should recover in a year or so, and commodity prices will begin to cycle up again. Indeed, John Di Tomasso, president of the Di Tomasso Group in Victoria, B.C., argues that in real terms, commodity prices are the cheapest in nearly eight decades. "If you're a long-term investor, this is as good as it gets," he says.
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