Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Commodities

<ul>
<li>A review of recent events/data impacting our investment themes and outlook</li>
<li>Negotiations between the US and China are not going well, to say the least!</li>
<li>We review the short-term outlook for some of the sectors we focus on.</li>
</ul>


A review of recent events/data impacting our investment themes and outlook
Negotiations between the US and China are not going well, to say the least!
We review the short-term outlook for some of the sectors we focus on.


OV #37 – From Chips to Ships: Markets Rattle as Trade War Escalates

<ul>
<li>How have our major investment themes performed so far in 2025?</li>
<li>Review of the performance of the major markets and asset classes we focus on</li>
<li>We revisit our outlook for each of those asset classes for Q4 25</li>
</ul>


How have our major investment themes performed so far in 2025?
Review of the performance of the major markets and asset classes we focus on
We revisit our outlook for each of those asset classes for Q4 25


<ul>
<li>A review of recent events/data impacting our investment themes and outlook</li>
<li>More government  deals in the critical minerals sector support our outlook</li>
<li>Grasberg mine accident and closure highlights tightness in the copper market</li>
</ul>


A review of recent events/data impacting our investment themes and outlook
More government  deals in the critical minerals sector support our outlook
Grasberg mine accident and closure highlights tightness in the copper market


Overview #36 - AI Hype, Mineral Might, and the Nuclear Revival

<ul>
<li>Critical Minerals Outside of China Will Command A Strategic Premium</li>
<li>As risk appetite in the mining sector increases, the biggest gains will be in the junior miners and exploration companies</li>
<li>We highlight eight companies as a basket of such miners which should benefit from these trends</li>
</ul>


Critical Minerals Outside of China Will Command A Strategic Premium
As risk appetite in the mining sector increases, the biggest gains will be in the junior miners and exploration companies
We highlight eight companies as a basket of such miners which should benefit from these trends


A Basket of High-Risk, High-Reward, Critical Metal Miners with Strategic Value - Pt 2

<ul>
<li>The current macro environment has elements of both the 1970's and mid-2000s commodity bull market</li>
<li>Investor interest and allocation to this asset class is still minimal</li>
<li>A rising cost of capital globally favours a move out of long duration into real assets</li>
</ul>


The current macro environment has elements of both the 1970's and mid-2000s commodity bull market
Investor interest and allocation to this asset class is still minimal
A rising cost of capital globally favours a move out of long duration into real assets


2026 High Conviction Idea: Our Basket of Commodity Equities Will Outperform Broad Equity Indices

United States

Commodity Research Bureau BLS Spot Indices. CRB BLS Spot Indices base: (1967=100)

CRB Commodity Index (CRB CMDT INDEX)

OV #37 – From Chips to Ships: Markets Rattle as Trade War Escalates

A review of recent events/data impacting our investment themes and outlook. We look at the fallout from the recent escalation of the trade war

Rikki Malik

Q4 Outlook for Our Investment Themes

A review of the performance of how our major investment themes have performed in 2025 and our outlook for Q4 and beyond.

Rikki Malik

Overview #36 - AI Hype, Mineral Might, and the Nuclear Revival

A review of recent events/data impacting our investment themes and outlook. We look at recent news impacting commodities

Rikki Malik

A Basket of High-Risk, High-Reward, Critical Metal Miners with Strategic Value - Pt 2

We look at the next 2 companies in the basket of strategic miners. Average performance of the basket over the last 2 weeks has been +12%

Rikki Malik

2026 High Conviction Idea: Our Basket of Commodity Equities Will Outperform Broad Equity Indices

Why a basket of commodity producers provide a good risk reward for any portfolio looking to get a real return. Underowned and unloved!

Rikki Malik

OV #37 – From Chips to Ships: Markets Rattle as Trade War Escalates

A review of recent events/data impacting our investment themes and outlook. We look at the fallout from the recent escalation of the trade war

Rikki Malik

Q4 Outlook for Our Investment Themes

​A review of the performance of how our major investment themes have performed in 2025 and our outlook for Q4 and beyond.

Rikki Malik

Overview #36 - AI Hype, Mineral Might, and the Nuclear Revival

A review of recent events/data impacting our investment themes and outlook. We look at recent news impacting commodities

Rikki Malik

A Basket of High-Risk, High-Reward, Critical Metal Miners with Strategic Value - Pt 2

We look at the next 2 companies in the basket of strategic miners. Average performance of the basket over the last 2 weeks has been +12%

Rikki Malik

2026 High Conviction Idea: Our Basket of Commodity Equities Will Outperform Broad Equity Indices

Why a basket of commodity producers provide a good risk reward for any portfolio looking to get a real return. Underowned and unloved!

Rikki Malik

A review of the performance of how our major investment themes have performed in 2025 and our outlook for Q4 and beyond.