Why the World’s Biggest Funds Get Mining Wrong (David Sparks)
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Why the World’s Biggest Funds Get Mining Wrong (David Sparks)
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Narrated by:
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About this listen
We’ve got the pleasure of sharing a conversation with David Sparks — an investor in the natural resources world with experience at some of the world’s biggest hedge funds, including the famed multi-strat firm Millennium, as well as BBT and Exodus Point.
In this episode, we unpack why investing in mining from a pod shop is often a flawed strategy, how these firms came to dominate the market, and what it actually means when a pod “blows up.”
David also shares his picks for the most impressive management teams in global mining and plenty more along the way.
We hope you enjoy this one as much as we did.
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TIMESTAMPS
00:00 Introduction
02:09 David Sparks on MoM
07:55 Being Market Neutral
09:58 Why the model doesn’t work in mining
13:40 The Volatility
16:07 Reflecting on multi strategy funds
19:02 The worst way to invest in mining
23:55 Shorting
27:20 The “lack of risk”
30:40 Access to management
32:00 Deploying capital in an unconstrained world
34:40 Are mining stocks more inefficient?
36:40 Cheap stocks
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PARTNERS
Thank you to the mining services businesses that make thiscontent possible:
· Grounded - Infrastructure for remote mining and civil projects Australia wide | Paul Natoli: pn@groundedgroup.com.au
· Sandvik Ground Support – The only ground support you’ll ever need
· Cross Boundary Energy – Independent power producer for the global mining industry | tim.taylor@crossboundary.com +61 466 184 943
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FOLLOW & CONNECT
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• Jonas Dorling: @JDmoneyofmine
• Email us Word on the Decline: gc@moneyofmine.com
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DISCLAIMER
All information in this podcast is for education and entertainment purposes only and is of general nature only. Please ensure you read our full disclaimer.