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Stock of the Decade” Member Services Manager STEVE MCDONALD Director, VIP Services by Louis Bass, Investment Advisory Panelist

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Stock of the Decade” Member Services Manager STEVE MCDONALD Director, VIP Services by Louis Bass, Investment Advisory Panelist Dr. Sjuggerud’s “Guaranteed” 20% on Your Investments.......................Page 5 EXECUTIVE COMMITTEE JAMES BOXLEY COOKE Honorary Chairman Baltimore, Maryland JULIA GUTH Executive Director GREAT PROFITS IN THE COMPANY OF GOOD FRIENDS ALEXANDER GREEN Club News Edition Investment Director SEPTEMBER 15, 2005, VOLUME 18, NO. 15 MICHAEL WARD Editorial Director RUTH LYONS Member Recruitment Director KRISTIN KEENEY & Why We’re Buying the STEVEN KING Co-Directors, World Financial Meetings & Seminars KATE MURPHY “Stock of the Decade” Member Services Manager STEVE MCDONALD Director, VIP Services by Louis Bass, Investment Advisory Panelist INVESTMENT ADVISORY PANELISTS If you think $3-a-gallon gas is a shock, brace yourself… it could MARY ANNE ADEN very well hit $4 in the coming months. PAMELA ADEN DEAN ALBRECHT Yet gas is not the only thing on the rise… LOUIS BASS HORACIO MÁRQUEZ ROBERT MEIER Since January of 1999, silver prices are up 40%. Gold’s rocketed KARIM RAHEMTULLA 53%. Steel prices have more than doubled. Uranium’s exploded 180%, Louis Bass INVESTMENT U and oil prices jumped a blistering 500%. Even copper (the metal once used to make the ADVISORY PANEL most worthless coin in American currency) is sitting near 16-year highs. DR. MARK SKOUSEN Chairman & Editor So what’s going on? D.R. BARTON Co-Chairman and Editor, We’re “in the beginning of a multiyear bull market in commodities,” says Jim Trader’s U, The Single Best Idea Rogers, legendary co-founder of the Quantum Fund with George Soros, which made DR. STEVE SJUGGERUD Investment Advisor investors 4,000% from 1970 to 1980 alone. DR. VAN K. THARP Investment Advisor The commodity bull market began in late 1998 and is likely to last at least another BRIAN YORK 10 years, says Rogers. But instead of dabbling in soybeans and pork bellies (and a Director of E-Commerce litany of other lesser known commodities), we’re going to go with a stock. In fact, it’s WEALTH PROTECTION one stock that can give us exposure to the most valuable commodities right now – and ADVISORY PANEL take advantage of the bull markets in China and India, as well. And we’re going to do ROBERT BAUMAN MICHAEL CHECKAN all this with less risk than investing in any derivatives. WAYNE LELAND Here’s how… CANADIAN INVESTMENT ADVISORY PANEL BRENT AMEY Mining Profits Throughout the Globe DAVID MELNIK ERIC ROSEMAN The stock is BHP Billiton (NYSE: BHP) – the world’s largest mining company, based in Australia and Britain. With a market cap of almost $100 billion, BHP is also ALSO IN THIS ISSUE... the world’s largest commodity company. • The Six Factors that Grow The firm is a major player in oil, natural gas, nickel, iron, aluminum, copper, silver, Your Portfolio ....................6 steel, coal, titanium and diamonds, with more than 100 operations spread across 20 • Oxford Club Portfolios...... 8 countries. • Oxfordian Property Exchange ......................10 Put simply, BHP is a one-stop shop for commodity investing, providing diversifica- • Members’ Exchange........11 tion in terms of both products and geographic regions. Over, please... P ROFIT P ICKS With the commodity bull market under way, 100%. That’s a substantial move, by any standard. it’s not surprising the stock has been barreling But over the long term, the index has gone from ahead lately, hitting another 52-week high in 260 in 1975 to close to 430 today. That’s a recent weeks. compounded annual return of less than 2% a year. And if you factored in inflation, commodity prices But believe me: There’s plenty of profit have essentially gone nowhere for three decades. potential left in this company. In fact, shares could easily double. Here’s why… So while a 180% uptick in uranium prices, or a 500% pop in oil prices, seems outrageous, Only Supply and Demand Matter… they’re far from potential highs. When it comes to commodity investing, supply and demand are the only fundamentals that Right now, demand is soaring and supplies are matter. When demand is high and supply is low, dwindling. And commodity prices in real terms only one thing can happen: prices soar. (inflation-adjusted) have barely increased. Oil may be the best example of this incontro- This is good news for investors in BHP. Further vertible principle. Just consider that it took us 125 price increase will only boost the company’s already years to consume the first trillion barrels of oil. robust financials. And BHP reported record setting Now it’s estimated we’ll use the next trillion in earnings this year. Available cash jumped 116% to only 30 years. $3.5 billion. Production volumes hit record levels for six major commodities. And net profits were up But while demand is soaring, many of the a staggering 127%, compared to the prior period. world’s oil and gas fields are maturing and even drying up. And extraction of mature fields is more Basic dues for membership in The Oxford Club are $149 a year. Membership costly. Worsening the scenario is the fact that new includes the Communiqué (USPS 008-575), which is published twice monthly on the first and third weeks of each month by The Oxford Club, LLC, 105 W. discoveries aren’t keeping up with the depletion or Monument Street, Baltimore, MD 21201. Non-U.S. dues are higher and vary from country to country. Periodicals’ Postage Paid at Baltimore, MD and increasing demand. additional mailing offices. POSTMASTER: Send address changes to The Oxford Club Communiqué, 105 W. Monument Street, Baltimore, MD 21201. For questions regarding the status of your membership call Member Account The data is pretty overwhelming… we’re in Services at 410.223.2643 or fax to 410.223.2650. Our website is: www.oxfordclub.com. Please send any investment questions or suggestions in store for higher oil prices for years to come. writing to The Oxford Club Research Department, 105 W. Monument Street, Baltimore, MD 21201, USA. Publisher Julia Guth Meanwhile, this situation isn’t limited to oil. Investment Director Alexander Green Editorial Director Michael Ward The same story holds true for uranium, copper Managing Editor Alex Williams Copyeditor Jennifer Shayne and gold, to name a few. Member Services Mgr. Kate Murphy Research Associate Chris Matthai Graphic Designer Kathy Osborne Remember that everything from the home you Associate Designer J Villanueva live in, to the computer you work on, to what’s Advertising Director Wayne Ellis Director of E-Commerce Brian York sitting on your lunch plate are all products that begin as commodities. And with global GDP PRIVACY NOTICE The Oxford Club, LLC, provides its members with unique opportunities to build and growth expected to top 3% this year, the demand protect wealth, globally, under all market conditions. The executive staff, research department and editors who contribute to the Club’s recommendations are proud of the for commodities is expected to rise even higher – reputation The Oxford Club has built since its inception in 1984. We believe the advice presented to its members in our published resources and at our meetings and seminars along with prices. is the best and most useful available to global investors today. The recommendations and analysis presented to members is for the exclusive use of members. Copying or disseminating any of the information published by The Oxford Club, electronic or otherwise, is strictly prohibited. Members should be aware that investment markets But Can Prices Really Go Higher? have inherent risks and there can be no guarantee of future profits. Likewise, past performance does not secure future results. Recommendations are subject to change at any time, and so members are encouraged to check our website www.oxfordclub.com So is it too late to capitalize on the commodity regularly and pay special attention to the “Oxford Portfolio Review” section of the boom? Absolutely not. Communiqué to get the most value from our investment analysis. © 2005, The Oxford Club, LLC Commodity prices have been too cheap for too 105 W. Monument Street, Baltimore, MD 21201 long. And now the “catch-up” phase in this bull The Oxford Club expressly forbids its writers from having a financial interest in any security recommended to its readers. And all Oxford Club employees and agents must market is here. wait 24 hours after an Internet publication prior to following an initial recommendation, and 72 hours after publication is mailed and is only in writing. The Oxford Club does not act as a personalized investment advisor. Investments recommended in this newsletter Over the past three years, the Goldman Sachs should be made only after consulting with your investment advisor and only after Commodity Index (GSCI) has risen more than reviewing the prospectus or financial statements of the company. 2 P ROFIT P ICKS Although these results are nothing shy of least 10 other major projects in the works. spectacular, much of the same may be in store in quarters ahead. Size Matters… In Resources And in the resources industry, size confers Capitalizing on Two Raging Bulls: major advantages. In particular, it gives BHP a India and China diversified income stream, easy access to interna- China and India have an incredible thirst for tional capital markets, bargaining power with oil, natural gas, coal, iron, steel and other suppliers, and enormous economies of scale. commodity-based products. And even though BHP has walloped the S&P For BHP it doesn’t get much better. Its outposts 500 for the past five years – gaining an average of are strategically located to serve these developing 26.3% per year while the S&P lost 1.4% annually regions of the world better than any other – the company remains the perfect vehicle for par- company.
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