Drivers & Exposure
What actually moves physical markets — elasticity, the capex cycle, producer groups, inventories, industrial demand and the dollar — and what owning commodity exposure does to a portfolio.
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Why does a 2% supply shortfall move the price 40%?
Start the first lessonUnit 1 Elasticity & Volatility
- Why does a 2% supply shortfall move the price 40%?
- Why doesn't demand simply fall to close the gap?
- Which number tells you a market is tight before the price does?
- Why do commodity price spikes usually end themselves?
Practice Check · Unit 1 A short check · cannot be failed Start
Unit 2 The Supply Side
- Why does it take a decade to answer a price signal?
- Why does the industry always seem to build too much, too late?
- What does a producer group actually do to the supply curve?
- How do you size a supply shock without guessing the price?
Practice Check · Unit 2 A short check · cannot be failed Start
Unit 3 The Demand Side & the Dollar
- Why do industrial metals turn before the economy does?
- Why does one country's construction cycle set the copper price?
- What happens to demand when a cheaper substitute wins?
- Why does a stronger dollar usually weigh on commodity prices?
Practice Check · Unit 3 A short check · cannot be failed Start
Unit 4 Commodities in a Portfolio
- Do commodities actually hedge inflation?
- Why does gold behave like no other commodity?
- How reliable is the diversification commodities are sold for?
- What have you learned about what actually moves physical markets?
Practice Check · Unit 4 A short check · cannot be failed Start
Last Course exam
One exam, the whole course Unlocks when you have read all 16 lessons
Passing it earns the course certificate.