by Bespoke Investment Group
For all the talk of surging commodities, did you know that the CRB Commodity Index has actually underperformed the S&P 500 off its lows in early 2009? While the S&P 500 is currently within one percent of doubling off its intraday low from March 2009, the CRB Index is only up 69%. As shown in the chart below, the CRB index is currently off more than 28% from its 2008 peak, and it has yet to surpass its peak from 2006. So while most investors are aware of the 'lost decade' in equities, commodities, as gauged by the CRB index, have had a 'lost half-decade' of their own.
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