Investors Bearish Yet Energy Demand Has Never Been Stronger


“We have seen an extraordinary increase in global energy demand in 2018, growing at its fastest pace this decade.” Dr. Fatih Birol, Executive Director of the International Energy Agency (IEA)



Exposure to Commodities: What’s the Right Amount?


Advisors often expect “traditional” allocations, such as large cap equities or U.S. fixed income, to provide a fair amount of exposure to commodities. For example, a small cap equity manager may..

When is the Right Time to Allocate to Natural Resources?


While many investors we speak with have dedicated allocations to natural resources, others believe the cyclicality of the asset class warrants a market timing approach. One opinion we’ve heard..

The Relationship Between Yellow Vests and Electric Vehicles pt. 2/2


In the second edition of our “Yellow vests and electrical vehicles” theme (you can read the first edition here), we dive back into how the inferior energetics of electric vehicles (EVs) are..

The Relationship Between Yellow Vests and Electric Vehicles pt. 1/2


“There has never been an instance in the history of civilization where a new technology with inferior “energetics” has replaced an older technology with superior “energetics.”


While in southern..

How the Electrification of India May Impact Copper Prices


Based on extremely favorable supply and demand trends, especially in India, copper continues to be our favorite metal.

Copper: Buy the Dip


Copper equities have pulled back significantly in the last six months and we believe that many offer excellent risk-reward characteristics.

Renewables and the Upcoming Bull Market in Copper


Elon Musk’s April announcement that Tesla will manufacture a $35,000 electric vehicle prompted a huge amount of discussion in the investment community regarding the coming bull market in..

This quarter's

Natural Resource
Market Commentary