Joining us on the show today to cover a wide range of topics including commodities, natural resources and main takeaways from the earnings season is Portfolio manager of Global Natural Resources Joe Overdevest. Joe gives an overview of what’s happening in the economy. He notes the US economy is doing better than Canada. There is a focus on technology where corporations are seeing where they can spend on new technologies including AI. Resources in general are doing well, but it’s mostly dividend and buybacks that interest shareholders in this industry. Joe also touches on oil, energy, and metals like copper. He comments on the short versus long-term investing strategies. He says the thought is copper and oil will perform in a short-term. The main driver is GDP. US GDP is a driver for energy. China’s GDP is the main driver for base metals. The long-term perspective is that governments want to go carbon neutral while energy companies might not feel comfortable transitioning to that. In Canada, we are waiting to be carbon neutral even if Canada is a leader in the energy sector. 

Recorded on May 27, 2024.

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