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>Short-Term market impact of the recent attack against Iran vs the longer-term outlook</li>
<li>Unintended consequences throw out investment opportunities as portfolio degrossing occurs</li>
</ul>


A review of recent events/data impacting our investment themes and outlook
Short-Term market impact of the recent attack against Iran vs the longer-term outlook
Unintended consequences throw out investment opportunities as portfolio degrossing occurs


Overview #52 – Oil Shocks, De-Grossing, and Trend Breaks?

Cross Asset Strategy

<ul>
<li>A review of 2025 performance for the major asset classes and sectors we follow</li>
<li>An outline summary of our current 2026 investment  ideas and themes</li>
<li>We make some changes in the allocations between commodity sectors</li>
</ul>


A review of 2025 performance for the major asset classes and sectors we follow
An outline summary of our current 2026 investment  ideas and themes
We make some changes in the allocations between commodity sectors


<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

<ul>
<li>A review of recent events/data impacting our investment themes and outlook</li>
<li>A correction has finally started in the precious metals space</li>
<li>What to do now in the sector for both the short and long term</li>
</ul>


A review of recent events/data impacting our investment themes and outlook
A correction has finally started in the precious metals space
What to do now in the sector for both the short and long term


Overview #38 Precious Metals – Has the Fat Lady Sung?

Thematic (Sector/Industry)

<ul>
<li>Gold continues to make new highs to little, if any fanfare</li>
<li>Traditional drivers of gold like lower real rates and a weaker dollar yet to come into play</li>
<li>What does this mean for the precious metals mining sector and is it time to buy?</li>
</ul>


Gold continues to make new highs to little, if any fanfare
Traditional drivers of gold like lower real rates and a weaker dollar yet to come into play
What does this mean for the precious metals mining sector and is it time to buy?


What’s the Best-Performing Major Asset Class This Year? Hint-Its Yellow and Shiny!

United States

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

CRB Commodity Index (CRB CMDT INDEX)

Overview #52 – Oil Shocks, De-Grossing, and Trend Breaks?

A review of recent events/data impacting our investment themes and outlook. We look at the action in stock and commodity markets impacted by the...

Rikki Malik

Major 2026 Investment Themes

A review of 2025 performance and current 2026 investment ideas, including some changes in our commodity sector allocations.

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

Overview #38 Precious Metals – Has the Fat Lady Sung?

A review of recent events/data impacting our investment themes and outlook. We look at the recent correction in precious metals and what it means...

Rikki Malik

What’s the Best-Performing Major Asset Class This Year? Hint-Its Yellow and Shiny!

Gold is reaching new highs without much attention, traditional drivers like low real rates and a weak dollar have not impacted yet. What does this...

Rikki Malik

Overview #52 – Oil Shocks, De-Grossing, and Trend Breaks?

A review of recent events/data impacting our investment themes and outlook. We look at the action in stock and commodity markets impacted by the...

Rikki Malik

Major 2026 Investment Themes

​A review of 2025 performance and current 2026 investment ideas, including some changes in our commodity sector allocations.

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

Overview #38 Precious Metals – Has the Fat Lady Sung?

A review of recent events/data impacting our investment themes and outlook. We look at the recent correction in precious metals and what it means...

Rikki Malik

What’s the Best-Performing Major Asset Class This Year? Hint-Its Yellow and Shiny!

​Gold is reaching new highs without much attention, traditional drivers like low real rates and a weak dollar have not impacted yet. What does this...

Rikki Malik

A review of 2025 performance and current 2026 investment ideas, including some changes in our commodity sector allocations.

Gold is reaching new highs without much attention, traditional drivers like low real rates and a weak dollar have not impacted yet. What does this...