Commodities Beat Tech This Decade, and Wall Street Still Won't Buy In
The best performing asset class of this decade is also the most under owned. Since October 2020, when we first called for a decades-long super-cycle in commodities, the broad commodity indices like the S&P GSCI are up 200 per cent; gold 140 per cent. This year commodities are up 37 per cent with pet
Source: OilPrice.com
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DW NOTE
Wall Street's allocation to commodities sits at 3.2% — a rounding error — despite commodities outperforming the Nasdaq this decade. The reason isn't psychology, it's incentive structure: fund managers collect fees on assets under management, and clients don't fire advisors for underperforming in things they've never heard of. Easier to own the seventh-largest semiconductor stock than the fourth-best zinc miner.