Goehring & Rozencwajg Associates’ Q3 2021 Investor Letter

Goehring & Rozencwajg Associates, an investment management firm, published its “Natural Resource Market Commentary” third-quarter 2021 investor letter – a copy of which can be downloaded here. In its letter, the fund talked about the energy crisis unfolding across Europe, Asia, and South America. The energy-heavy Goldman Sachs Commodity Index rose 5.2% on a total-return basis, while the Roger International Commodity Index, with its higher exposure to metals and agriculture, rose 6.2%. The...