Ann: Quarterly Activities Report March 2019, page-35

There is really a lot of guesswork in forecasting trends. Sure you can analyse everything available to you but nothing is ever written in stone.

But my overriding theme when it comes to commodities is fairly simple.

There are more and more people chasing fewer and fewer commodities.

There are huge numbers of people in China, India etc who will be moving from poverty to the middle class.

They will all want the type of things that we are fortunate enough to be able to afford and have.

That is going to put a huge strain on commodities.

My view has been that the commodities boom is not over and that it is simply having a breather before the next up leg.

Hope you all have a good easter.