#103 The revenge of the old economy

The AI trade's next chapter is likely to run through copper, natural gas and gold, not chips. Paul Gooden sees natural resource equities in the early innings of a new cycle, underpinned by unusually tight supply discipline and free cash flow yields roughly double the global equity market. It's a contrarian case for an out-of-favour asset class riding on the world's most crowded theme. Hosted on Acast. See acast.com/privacy for more information.