what happened to the commodity bull market

39
What Happened to the Commodity Bull Market? Jim Letourneau, P.Geol. Big Picture Guy www.JimLetourneau.com California Resource Investment Conference February 11, 2012

Upload: jim-letourneau

Post on 25-Jun-2015

1.229 views

Category:

Economy & Finance


4 download

DESCRIPTION

Where are we in the long term commodity cycle? While some commodities are decidedly NOT in a bull market (natural gas) most look horrible on a 3 year chart but pretty nice on a 15 year chart.

TRANSCRIPT

Page 1: What Happened to the Commodity Bull Market

What Happened to the Commodity Bull Market?

Jim Letourneau, P.Geol.Big Picture Guywww.JimLetourneau.com

California Resource Investment ConferenceFebruary 11, 2012

Page 2: What Happened to the Commodity Bull Market

Rogers Commodity Index

Page 3: What Happened to the Commodity Bull Market

Great News!

Page 4: What Happened to the Commodity Bull Market

Outline

●Where are we in the cycle?●Mining cycle●Hype cycle●Prediction

Page 5: What Happened to the Commodity Bull Market

2004...

Page 6: What Happened to the Commodity Bull Market

TIMING?

Page 7: What Happened to the Commodity Bull Market

2004...

Page 8: What Happened to the Commodity Bull Market

Rogers Commodity Index

Page 9: What Happened to the Commodity Bull Market

Commodity Bull Market

●Started in 1998/1999●17 Year Cycle on Average●Ending in 2016???

Page 10: What Happened to the Commodity Bull Market

Rogers Agriculture

Page 11: What Happened to the Commodity Bull Market

Rogers Agriculture

Page 12: What Happened to the Commodity Bull Market

Rogers Energy

Page 13: What Happened to the Commodity Bull Market

Rogers Energy

Page 14: What Happened to the Commodity Bull Market

Oil

Page 15: What Happened to the Commodity Bull Market

Natural Gas

Page 16: What Happened to the Commodity Bull Market

Rogers Metals

Page 17: What Happened to the Commodity Bull Market

Rogers Metals

Page 18: What Happened to the Commodity Bull Market

Copper

Page 19: What Happened to the Commodity Bull Market

Mine Cycle

Page 20: What Happened to the Commodity Bull Market

RISK vs Project Value

Page 21: What Happened to the Commodity Bull Market

History of Hype Curves

Developed by Gartner Research in 1995 and refined continuosly since.

Page 22: What Happened to the Commodity Bull Market

Hype Cycles provide a graphic representation of the maturity and adoption of technologies and applications, and how they are potentially relevant to solving real business problems and exploiting new opportunities.

Page 23: What Happened to the Commodity Bull Market
Page 24: What Happened to the Commodity Bull Market

5 Key Points

●Technology Trigger●Peak of Inflated Expectations●Trough of Disillusionment●Slope of Enlightenment●Plateau of Productivity

Page 25: What Happened to the Commodity Bull Market
Page 26: What Happened to the Commodity Bull Market

Uranium Spot Price

Page 27: What Happened to the Commodity Bull Market

UEX.TO

Page 28: What Happened to the Commodity Bull Market

UEX

Page 29: What Happened to the Commodity Bull Market

WEE.V

Page 30: What Happened to the Commodity Bull Market

RVX.TO

Page 31: What Happened to the Commodity Bull Market

2 Parts

Page 32: What Happened to the Commodity Bull Market

Remember!

Pigs feeding at the trough of disillusionment will not be slaughtered

Page 33: What Happened to the Commodity Bull Market

NASDAQ

Page 34: What Happened to the Commodity Bull Market

GOLD

Page 35: What Happened to the Commodity Bull Market

1966

Page 36: What Happened to the Commodity Bull Market

2012

Page 37: What Happened to the Commodity Bull Market

Commodity Bull Market

●Started in 1998/1999●17 Year Cycle on Average●Ending in 2016???

Page 38: What Happened to the Commodity Bull Market

Commodity Bull Market

●Started in 1998/1999●17 Year Cycle on Average●Ending in 2016???

Page 39: What Happened to the Commodity Bull Market

www.JimLetourneau.com

Jim Letourneau, P.Geol.Big Picture Guy