On Friday I had first time guest Scott Osheroff on the podcast. He runs Yurta Capital and is focused on overlooked opportunities in frontier markets and commodities. We talked about his experience traveling and investing all over the world, and why he thinks we will see a capital rotation to markets outside of the US. We also bounced around different commodities sectors, and which ones he finds appealing today. You can find him on Twitter and on Telegram.
Podcast Summary
His experience in Asia, Eastern Europe, and looking at opportunities in overlooked areas of the market.
Why we in the early stages of a multi-year reallocation to the rest of the world, and why it doesn’t take much money to move markets outside of the US.
Getting more conservative and the potential for a market correction where correlations go to one.
The torque available in offshore oil services, and the outlook for the next several years.
Precious metals, and how investors all seem to focus on the same handful of ideas.
Avoiding the herd mentality when it comes to commodities.
Iron ore, coal, natural gas, and why the traditional hydrocarbons companies are near the top of his list right now.
The multi-speed global economy, and how different major economies and markets have different policies.
Chemicals, and why he’s paying attention to Chinese policy for that sector.
Agricultural companies, the importance of cheap natural gas for the sector, and why he thinks the gap between US natural gas prices and European prices will converge.
Why he thinks the dollar is in the early stages of a secular decline, and the potential for capital rotation.
Book Recommendations: Burmese Days by George Orwell, How Asia Works by Joe Studwell & Asian Godfathers by Joe Studwell.
