“Over the longer-term, ESG-led activist investors have all but ensured non-OPEC production will fall dramatically, leaving OPEC with increased market share and pricing power.” Over the past 18...
“With Earnings Soaring, Banks See Boom Ahead” The New York Times, 4/14/2021. A vigorous debate has emerged surrounding inflation as money supply growth dramatically accelerates, deficit spending...
In our Q4 2020 letter, we discussed how China had emerged seemingly overnight as one of the world’s largest corn importers. While China had become a large importer of soybeans 20 years ago, its corn...
Given low ending stocks, both corn and soy are extremely susceptible to any disappointments in plantings, harvest, or weather. As the 2021–2022 season gets underway, problems have already developed....
Non-OPEC+ production outside of the US is facing challenges similar to the situation with the US shales. In their most recent report, the IEA reports that non-OPEC+ production outside of the US was...
Managing Partners Leigh Goehring and Adam Rozencwajg recently hosted a video conference call along with Stacy Havener, CEO and Founder of Havener Capital Partners. During the event, they discussed...
![[Podcast with Financial Sense] Copper Has Years Left to Run](https://blog.gorozen.com/hubfs/Blog/2021.06%20GR%20Blog%20238%20LinkedIn.png)
Managing partner Adam Rozencwajg was recently featured on Financial Sense Wealth Management’s popular podcast to discuss the supply and demand backdrop for copper, and why we’ll likely see higher...
Exactly one year after West Texas Intermediate crude reached its historic -$37 per barrel low, the damage inflicted on global oil markets from the COVID-19 economic lockdowns has been largely...
“Jefferies published a research note entitled “Are EVs as ‘Green’ as They Appear?” in which they conclude an electric vehicle must be driven 200,000 km (or 124,000 miles) before its “whole of life”...
Prior to 2005, few investors paid any attention to issues related to copper depletion. The reason was simple: the average reserve grade and head grade (that is, the quality of the ore being mined) of...