In this presentation at the Vancouver Resource Investment Conference 2019, I discuss the U.S.–China trade war, commodity speculation, junior mining, and how to build a rational speculator’s portfolio.

The presentation argues that too many investors use the mining sector as a vehicle for commodity price speculation, thereby destroying wealth by chasing leverage rather than value. Instead, investors should focus on good companies, competent management, strong projects, and jurisdictions where the gap between intrinsic value and market price creates real opportunity.

Watch the full presentation below:

Key Takeaways:

• Why the U.S.–China trade war is likely to be more noise than substance
• Why mining stocks should not be used merely as leveraged commodity bets
• How investors destroy wealth by focusing on commodity prices rather than value
• Why management quality, jurisdiction, and project strength matter more than slogans
• How a rational speculator can build a portfolio around ignored value in the resource sector