Anglos: Go Woke, Go Broke!
Remember last year when Anglos got rid of their thermal coal assets in South Africa, doing the “woke politically correct” thing. Well, what another brilliant wealth-creating exercise. Look at what has happened to the coal “assets” (more like liabilities in Anglo’s eyes):
Oh, my gracious! Look at the valuations and returns.
Isn’t it bizarre? Just 7 months ago Europe was sending a delegation to South Africa with the aim of getting the country off coal. From Bloomberg:
Well, lookie here… fast forward 7 months:
We shake our heads, but we aren’t complaining. As you’ll recall we laughed at the absurdity of it all when it was happening.
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How Our Fund Is Frontrunning The Economic Madness In 2022 And Beyond
- Copper - Copper prices have to rise to address a huge supply deficit looming on the horizon.
- Shipping - Shipping is vital for the functioning of the modern world, yet is priced for bankruptcy.
- Eastern Europe - Position for the long term trend of capital moving from the West to the East with Polish and Russian equities markets.
- US Dollar - We’re bearish all paper currencies, but believe that the USD will outperform all others.
- Base Metals - Clean energy targets require more battery metals than existing global supply.
- Off Shore Oil & Gas - Offshore oil investment has been smashed, yet consumption continues to grow.
- Rare Earth Metals - A play on geopolitics and a cycle that should see a repricing of these commodities.
- Russion Oil & Gas - Virtue signaling abandonment of fossil fuels led by Western oil co’s means Russia is taking up the slack.
- Uranium - The looming supply deficit promises to pay handsomely when the market inevitably reprices.
- Gold - Gold sees the perfect storm; the turn of a cycle, supply issues, and lack of faith in sovereign currency.
- Coal - Modern society is dependent on coal, with supply continually growing. Is there a more hated investment?
- Personal Defense - Order is breaking down in the US, and the unrest is giving us an opportunity to position for asymmetry.
- Agriculture - Lockdowns and monetary stimulus have ensured food prices will rise, providing deep value.
- Natural Gas - Supply and demand dynamics coupled with dependency from the US provides a great opportunity.
- Plus much much more...
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