Where Are Commodities Headed in 2016?

The commodity supercycle that began back in the 1970s may be at an end as the GSCI Excess Return Index recently reached 42-year lows. At these depressed levels, there has been no shortage of speculators trying to call the bottom. Bloomberg reported that ETF investors spent about $24 billion over the past 18 months failing to call a bottom in crude oil alone – the most ever spent in a single ETF category trying to predict a rebound.