Everything is supply and demand. Phosphate was not preferred ingredient in car batteries until Chinese worked out a couple years ago a way to make such battery viable. Look at what batteries now go to into EVs. Also what goes into storage batteries. Not only supply is not enough but demand is rapidly rising. Check 15 year lithium chart to understand.
Overall commodities will outperform. If food prices and house prices can double and triple, then why what they are made of can't do the same.
Regarding share price, Buffett covered it back in 1987:
"In the short run, the market is a voting machine but in the long run, it is a weighing machine."
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1.7¢ |
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