1. Commodities: The Past, The Present and The Future Presentation to Bloomberg LP / 16 December 2009, Hong Kong Mr Dan Doctoroff / President Presented by CWA Global Markets Peter McGuire Founder / Managing Director

2. Introduction

3. Introduction

4. Introduction Commodity bull markets ranked by % gain in CRB (CCI) Index Low High % Rally Rally duration Mean CPI (yoy) 2001-08 October 2001 182.83 July 2008 615.04 236.4% 81 months 2.8% 1971-74 October 1971 96.40 February 1974 237.80 146.7% 28 months 4.9% 1977-80 August 1977 184.70 November 1980 337.60 82.8% 39 months 10.2% 1986-88 July 1986 196.16 June 1988 272.19 38.8% 23 months 3.2% 1992-96 August 1992 198.17 April 1996 263.79 33.1% 44 months 2.8% Source: Commodity Research Bureau

5. DOW JONES INDUSTRIAL AVERAGE Introduction mmmm

18. AGRI COMMODITIES

19. CORN – Chicago nearby futures Agri Commodities

20. SOYBEANS – Chicago nearby futures Agri Commodities

24. CRUDE & NATURAL GAS

25. CRUDE OIL – WTI nearby futures Energies

29. METALS METALS

30. GOLD – COMEX nearby futures Metals

31. SILVER – COMEX nearby futures Metals

32. COPPER - LME nearby futures Metals

33. NICKEL – LME nearby futures Metals

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