The O.E.C.D. [Organization for Economic Cooperation and Development] SAYS FOOD PRICES TO STAY HIGH FOR 10 YEARS
SUMMARY
We know that oil and many other commodities have gone up a lot, and we further know that they can correct at any time. However, our basic themes remain unchanged. Oil, food, base metal or precious metal prices may fall for a month or for six months, but longer term they will rise.
Major mistakes, especially by monetary authorities in emerging economies suggest that our old themes continue to be valid. Should they decline in price we will purchase oil and energy, food related (fertilizers, etc), gold and precious metals, base metals and the shares of fast growing companies in fast growing countries.
The day will come when the trends supporting our themes of growth in demand and price for commodities will end...that day has not yet arrived. When it does we will do our best to inform you in advance.
Thanks again for listening.
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