GM58: Electric Dreams and Commodity Market Realities ft. Tor Svelland
Top Traders Unplugged
Niels Kaastrup-Larsen
4.8 • 670 Ratings
🗓️ 13 March 2024
⏱️ 62 minutes
🧾️ Download transcript
Summary
Tor Svelland, of Svelland Capital, joins Alan Dunne in this episode to discuss the global macro forces driving global commodity markets. They discuss how the commodity markets have evolved over the years, as banks have scaled back trading and quant firms and CTAs have become more prominent players. Tor outlines the key reasons he believes commodity markets are in the midst of a super cycle, identifies where he sees the strongest opportunities and discusses what the commodity markets are currently suggesting about the state of global demand. They discuss how the global energy transition, de-globalization and nearshoring, rising geopolitical risk and increased defence spending will impact markets. They also delve into the periodic mis-pricings Tor sees between equities, particularly technology stocks, and commodities given their rising electricity demand.
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Episode TimeStamps:
02:26 - Introduction to Tor Svelland
06:18 - How have commodity markets evolved?
09:19 - More opportunities in commodity markets?
11:32 - Why Tor started his own firm
14:15 - Tor's outlook for the commodity markets
17:10 - What has driven the flat trend in the major industrial markets?
20:09 - Are we in a super cycle?
22:55 - Translating trends into trades
24:47 -...
Transcript
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| 0:00.0 | I'm a bit surprised that the oil market are happy to trade a fairly low volatility when the underlying markets are quite challenged and can be challenged. |
| 0:20.0 | But that's just a situation and we have not been traded. are quite challenged and can be challenged. |
| 0:23.3 | But that's just a situation. |
| 0:28.4 | And we have not been trading this market with all this noise, |
| 0:31.8 | and still we are trading with volatility, |
| 0:36.0 | which we again also seen in the equity market and on index level, |
| 0:37.7 | and also in the FX market. |
| 0:44.6 | So let's see going forward that we are so confident that nothing can happen. |
| 0:46.2 | But that's the situation right now. |
| 0:51.5 | Imagine spending an hour with the world's greatest traders. |
| 0:55.0 | Imagine learning from their experiences, their successes, and their failures. Imagine no more. Welcome to Top Traders Unplugged, the place where you can |
| 1:02.0 | learn from the best hedge fund managers in the world so you can take your manager, due diligence, |
| 1:07.0 | or investment career to the next level. Before we begin today's conversation, remember to keep two things in mind. |
| 1:13.3 | All the discussion we'll have about investment performance is about the past, |
| 1:17.0 | and past performance does not guarantee or even infer anything about future performance. |
| 1:22.1 | Also understand that there's a significant risk of financial loss with all investment strategies, |
| 1:26.3 | and you need to request and |
| 1:28.0 | understand the specific risks from the investment manager about their product before you make |
| 1:32.6 | investment decisions. |
| 1:34.2 | Here's your host, veteran hedge fund manager, Nealz Kostrup Larson. |
| 1:43.9 | Welcome and welcome back to another conversation in our series of episodes that focuses on markets and investing from a global macro perspective. |
| 1:52.0 | This is a series that I not only find incredibly interesting, as well as intellectually challenging, but also very important given where we are in the global economy |
... |
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