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Opening Statement from the October 2014 Intelligent Investor (Part 1)

First published on October 5, 2014 for subscribers to the Intelligent Investor

As expected, the commodities market continues to reflect the realities of a weakening global economy. Without substantial economic stimulus, global economic momentum is likely to keep downward pressure on commodities pricing moving into 2015, aside from any short or intermediate-term price retracements.

We first discussed the deflation of the commodities bubble in the February 2011 issue of the Intelligent Investor. This forecast was published at a time when most others were forecasting substantially higher commodities pricing.