Perfect cycle playing out in front of us. Sugar, an upcycle of 2 years, superb wealth was created. And see, what is happening in downcycle, huge wealth gets destroyed. Luckily for me, it played out perfectly. Had exited sugar quiet a while ago. Timing is very important in commodity cyclical plays.
One of the slides in my presentation, talks about huge underperformance in downcycle. Seems to be playing out now.