Time & Money Review 11/02/07 – Commodities Bubbling

There is a simple strategy that is working now:  If you drop it on your foot and it hurts- buy it!  Don’t believe me – drop a barrel of oil on your foot.  Say good-bye to your foot, but if you own a few barrels at $95 each it would soothe the pain.  A pound of cooper at $3.40 hurts, but not as much as it did at 4 bucks.  A bushel of wheat or corn – hurts.  An ounce of gold wouldn’t hurt too badly, but most wouldn’t know where to buy a Gold Eagle anyway.  Just in case you haven’t heard one of those will set you back 800 smackers.

With commodities making multi-year and in some cases all-time highs, the cries of bubbles are getting louder and louder.  Interestingly, these same pronouncers missed the internet and real estate bubbles.  I suggest that you ignore the bubble predictors – buy yourself a pair of steel-toed boots and back up the truck.  

For the week, the TTaMG portfolios were a mixed bag:

  • Fab 4              -0.5%
  • BBO               -1.9%
  • BRIC               2.2%
  • Real Money     2.1%
  • TBS                6.2%
  • MDs Ag Play   2.4% 

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