What 2 Decades Trading Commodities Taught Fred Seguy

<p>Former power trader Fred Seguy joins us to talk about hispath to the trading floors at EDF, Gunvor and Shell and on to running his own book. </p><p><br></p><p>Fred writes the Fred&#39;s Corner Substack and walks us throughhow he blends fundamentals, charts and risk management across commodities and equities, after decades honing his craft.</p><p>• Risk management, Taleb and why &quot;nothing is guaranteed&quot;• How he avoids killing profits from over-trading• His call on oil earlier this year and why he now sees an $80-85 floor• Why he&#39;s sitting out copper and doesn&#39;t buy the AI power demand story• Nickel&#39;s cost curve, uranium via Sprott and Yellowcake, and his PGM and gold positions• Brazil and Vietnam as EM value plays heading into elections</p><p>Fred’s Corner Substack: https://fredscorner.substack.com/</p><p>……………  </p><p><strong>  </strong></p><p><strong>TIMESTAMPS  </strong></p><p>(00:00) Who is Fred Seguy<br>(04:50) Weather and Renewables Edge<br>(11:30) Oil Long Thesis Example<br>(18:20) Copper and the Narrative Trap<br>(25:00) Nickel Cost Curve and Carry<br>(30:30) PGMs and Gold Breakouts<br>(34:50) Oil Floors<br>(38:07) Emerging Market Bets<br>(43:52) Rapid Fire</p><p>……………  </p><p>  </p><p>Join 19k+ subscribers to the <a href="https://www.moneyofmine.com/subscribe" target="_blank" rel="ugc noopener noreferrer">⁠⁠⁠⁠⁠⁠⁠⁠Director’s Special⁠⁠⁠⁠⁠⁠⁠⁠</a>:one daily email with all the news that matters in mining  </p><p>……………  </p><p><strong>  </strong></p><p><strong>PARTNERS  </strong></p><p>Thank you to the mining services businesses that make this content possible:  </p><p><br></p><p>• <a href="https://www.rocktechnology.sandvik/en/products/ground-support/"><strong>Sandvik Ground Support</strong>⁠</a> – The only ground support you’ll ever need</p><p>• <a href="https://www.titanrecruitment.com.au/enquiry-2026"><strong>Titan Recruitment</strong></a> – Titan Recruitment - Specialists in engineering and mining technical services recruitment</p><p>• <a href="https://marketech.com.au/focus?utm_source=partnerships&utm_campaign=mom"><strong>Focus by Marketech</strong></a> – All your mining news and market needs in one powerful platform | <a href="https://marketech.com.au/focus?utm_source=partnerships&utm_campaign=mom">10-day free trial</a></p><p>• <a href="https://www.intralinks.com/"><strong>SS&amp;C Intralinks</strong></a> – Powering deals with unmatched security and efficiency</p><p>• <a href="https://www.exceedcapital.com.au/sp-property-t