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Strategies & Market Trends : The Aristocrats (tm)

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Dec 31 3:59 PM EST

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From: sense

5/12/2021 3:53:21 AM

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Commodities bull run "over soon" ?

Ark's Cathie Wood predicts 'serious correction' in commodities

My guess is that's more about: 11 Plunging Stocks Are Badly Burning Cathie Wood's ARK Invest

FWIW, I do have a short list of stocks that includes a number of Wood's tech and biotech picks... which only makes sense. I trust her to do the homework on validating them... even if I think her sense of the market is whacked... and her judgement of relative value is off by an order of magnitude...

Commodities have been in a bear market for a decade... which is why you can buy a stock like SBSW, with a yield over 5%... at a forward PE of UNDER 1... With a market cap of 14 billion... debt of $18.71 and CASH of 20.24... SBSW is valued at roughly 1/3 of its financial capital... which you might say is a function of too much debt... if they didn't have more cash than debt... while rising prices have them finally making real money, again. Wood apparently thinks a peak in a bubble in the commodities market... is one where companies producing real things that people need... actually make money ?

This is over-valuation at a peak ?

Yahoo on SBSW's Valuation Measures - Currency in USD

Current

Trailing P/E	1.69
Forward P/E 1	0.97

Price/Sales (ttm)	0.39
Price/Book (mrq)	0.77
Enterprise Value/Revenue 3	0.11
Enterprise Value/EBITDA 7	0.31

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