In mid-2008 he warned investors not to hold on to equities in oil producers. In August 2008 he predicted the largest sell-off in commodities stocks was about to follow. Between 2011 and 2015 Rudi consistently maintained investors were better off avoiding exposure to commodities and to commodities stocks. Rudi's View | Jul 29 2026With August results approaching, investors better prepare for a spike in share price volatility. Peers at UBS explain the 12% growth rate instantly falls to 4.5% once forecasts for resources companies are removed, and to only 2.5% if the banks are also excluded.