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During the period, copper rose in price an average of 1.5% per year (not adjusted for inflation).
Copper Statistics and Information
Building construction is the single largest market...
Since I am very bearish on the housing market, investing in copper right now is just about the furthest thing from my mind. Its current (as of September 3, 2007) price of $3.37 is well into uncharted territory (it is not included in the chart above). I've included both it and the current (as of September 3, 2007) price of oil in the chart below (upper right hand corner).
As you can see from the chart, there are just three points forming much of the trend. Without them, there could very well even be an inverse relationship between oil and copper. Further, those three points are all recent (2004, 2005, and the current price).
Conclusion: I'm not much of a believer in the current copper story. This is not investment advice.
2 comments:
You, sir, are one of the most entertaining characters I've come across in the blogosphere (via CR).
Where do you reside, just out of curiousity?
I appreciate your kinds words!
I live in the Pacific Northwest (USA) and clearly have way too much time on my hands. ;)
Here's my thinking in a nutshell:
If you want to tell people the truth, make them laugh, otherwise they'll kill you. - Oscar Wilde
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