But not every commodity has suffered this same tough fate. In fact, there's even been a major standout. It's a commodity that most investors rarely think about.
I'm talking about lumber.
If you want to understand why I’m such a big proponent of biotech-related investments, just look at a stunning report released earlier in the quarter by the IMS Institute for Healthcare Informatics, a unit of IMS Holdings Inc. (NYSE: IMS).
The study – “Medicine Use and Spending Shifts: A Review of the Use of Medicines in the U.S. in 2014″- found that total drug sales in America increased by more than $43 billion last year.
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Oil prices staged a remarkable rally this year on the back of a weak dollar and a nascent economic recovery. In 2010, it's likely that these same factors will combine with an increase in global energy demand to push oil prices back up over $100 a barrel.
With stockpiles still high and energy demand rebounding sluggishly, most forecasts are calling for the "black gold" to edge up into the low-triple-digit price range. That's 40% higher than where oil is trading right now - but is still well below the record high of nearly $150 a barrel that was established in 2008.
Money Morning Chief Investment Strategist Keith Fitz-Gerald is even more bullish. He believes that a price of $100 a barrel is "easily attainable" and says that some sort of unforeseen market shock could cause crude oil to spike as high as $150 barrel by the end of 2010.