If you’ve got young people who don’t know what to do, I’d urge them not to get MBAs, but to get agriculture degrees,” investment guru Jim Rogers once told CNBC.com. The Singapore-based co-founder of the Quantum Fund has long been a proponent of commodities, even when the previous supercycle ended in 2014. Stockbrokers, he prophesied, will soon find themselves driving taxis while farmers swagger about in Lamborghinis.

This radical message may have been somewhat difficult to believe since 2015, when a US shale revolution, a slowdown in China’s economy (which dampens demand) and a damaging trade war brought commodity prices back to Earth. It must have seemed downright ludicrous as the Covid-19 pandemic dragged oil prices into negative territory. Despite this, Rogers continued to keep faith in commodities, expressing a bullish case for commodities in an April 16, 2020, interview with ETF Strategy even as global markets and practically all asset classes sank from the Covid-19 induced selldown.

Now, as the global economy begins its arduous climb out of the black hole of Covid-19, the “investment biker”, as Rogers is also known, is no longer a lonely voice crying in the wilderness. No less than investment banking giant Goldman Sachs is now preaching the once-heretical gospel of the commodity supercycle. Repent, it proclaimed on Jan 5, a new commodity supercycle is at hand! 

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