24.06.2013 - Time to move on from commodities to global stock picking
Morgan Stanley this week joined a growing list of big investment banks beating a partial retreat from commodities trading. Like Barclays, UBS and Deutsche Bank, it is struggling to make sense of a business where revenues have tumbled since the heyday of the natural resources boom immediately prior to the financial crisis. So is the commodities super-cycle over? For three reasons, I think the remarkable rally in the prices of energy and metals (although maybe not food which marches to a different beat) may have ground to a halt. If so, this might have big implications for investors...............................................Full Article: Source
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