Investors who are praying for a bounce back in resource stocks are likely to face frustration in 2014. Most top commodity strategists see a difficult year ahead for the “hole in the ground with a liar on top” sector.
It’s not that the problems facing miners and energy producers are anything new. The S&P/TSX materials index has shed 31 per cent this year, while the U.S. dollar-denominated S&P/GSCI industrial metals benchmark has retreated 1 per cent. But according to prominent strategists, there is still plenty of pain to come.