As the metal price cycle matures, the chances improve that markets become more aware of the upside risks than the downside risk which dominated sentiment...
John Robertson
PortfolioDirect
As the metal price cycle matures, the chances improve that markets become more aware of the upside risks than the downside risk which dominated sentiment earlier on. Markets could still be some years away from a genuine cyclical rise but there will be some tendency to anticipate the next rise rather than worry about the depth of the current cycle. This change in attitude will generally favour Phase III and Phase IV companies which, by definition, lack organic growth but whose earnings can be highly leveraged to commodity price movements. Before the onset of a cyclical upturn, these shorter term fluctuations are best treated as trading opportunities whose benefits could dissipate as quickly as they arose in the first instance.
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John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business strategist and investment market professional for over 30 years after starting his career as a Commonwealth Treasury economist in Canberra. Since being Australia's top-rated commodities analyst and chief economist at one of Australia' leading stockbroking firms, he has advised companies across the mining, consumer products, IT and biotech sectors on their equity market relations. He leads the firm's investment evaluation and security structuring activities on behalf of the Australian Small Scale Offerings Board (ASSOB), the world's first equity 'crowdfunding' investment platform. John Robertson discusses the interaction of mining and investment markets in his weekly 'From the Capital' column in Mining Journal.
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John Robertson
PortfolioDirect
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
Expertise
No areas of expertise
John Robertson
PortfolioDirect
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
Expertise
No areas of expertise
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