I like investing in businesses that are simple and profitable, provided that I can buy my share in the business at an attractive price.

A business based on digging up stuff and selling it is certainly appealing with regard to simplicity. But profit is a more tenuous concept. This chart shows prices of oil, lithium and iron ore over the last 10 years.

Sometimes good investing practice means not investing. I had looked at lithium for a while and decided against it some time ago. Fortunately. Poor suckers buying in 2 years ago have seen the price reduce by 5/6ths.

However, I am an investor in iron ore and oil. Swings and roundabouts perhaps? The troubled Chinese economy is partly to blame. Commodities are notoriously cyclical. This next 12 months is unlikely to be easy for investors.