He created the ubiquitous Bloomberg Commodity Index and survived $20 oil, now De Chiara says rising rates and a revving economy make once-plunging commodities impossible to ignore. “We are in the early stages of what is going to be a protracted bull market in commodities,” he says. Relative to REITs, bonds, stocks and emerging markets, De Chiara's research shows commodities are significantly undervalued compared to long-term averages. The firm builds portfolios of direct commodity holdings, typically using futures, and it owns equities of commodity producers. Historically, in rising rate and growth environments -- think the 2002-2008 bull -- commodities outperform.

Source: Forbes May 24, 2018 17:02 UTC