Yesterday I had Giacomo Prandelli on my podcast for the first time. He has an interesting vantage point as a commodities trader in Switzerland when it comes to geopolitics and commodities markets. We talked about the geopolitical chessboard and the tensions between the US, Europe, China, and Russia. We also got into the commodities complex and talked about where he sees opportunities and why it’s important to look at the global picture for each commodity. You can find him on Substack, Linkedin, and Twitter.
Podcast Summary
The setup for the geopolitical chessboard, and the increasing tensions between the US, Europe, China, and Russia.
Why he doesn’t think Europe will prioritize the production capabilities for oil, gas, and other commodities, and the fragility of European supply chains.
Why copper and oil are top of mind for him right now.
How he occasionally expresses a view on a certain commodity with directional exposure.
Why it’s important to look at the global picture for the different commodities.
Why he pays attention to shipping, and why he thinks the rising rates in certain subsectors is more due to geopolitical factors than rising demand.
His view on the precious metals complex.
Opportunities in smaller commodities that are off the radar, including nickel and rare earths.
Book Recommendations: The Prince by Niccolo Machiavelli and The World For Sale by Javier Blas and Jack Farchy.
