05/12/2023 09:34

Three contrarian scenarios to consider for 2024

Always expect the unexpected is a very useful adage for investors, and today, we have looked at 3 cases that would put a spanner in the works for the majority of investors as they sit in the contrarian corner with 2024 looming on the horizon – it's now only 20-days until Christmas.

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28/11/2023 09:11

How long can the lithium supply glut last?

The sharp correction by lithium and its related stocks has been the undoing of many portfolios through 2023 after the year started with many investors wanting exposure to the EV revolution – we discussed it as a crowded space at the time, but its demise this year has been deeper than we imagined. Last week saw Lithium prices in China fall sharply to their lowest point in over 2 years after a trial delivery of the critical battery metal to the Guangzhou Futures Exchange indicated a larger-than-expected supply.

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10/10/2023 09:20

Pilbara Minerals Ltd (PLS) $3.73

PLS keeps on slipping lower, it’s now corrected over 31% from its July high as both the lithium price and related stocks continue to struggle. We believe value is starting to present itself, especially for quality stocks like PLS, which hold $3.3bn in cash and continued strong FCF (Free cash flow) generation, we could see an upsized return to shareholders in the near term.

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03/10/2023 09:13

First Up

A number of times over recent months, we’ve been looking for some stock/sector reversion, but it has proved elusive as bond yields continue to make fresh multi-year highs, ultimately leaving most of 2023’s trends intact, e.g. an underperforming Healthcare Sector while Tech heads the winner's enclosure. More on this later when we put the increasingly influential bond yields back under the microscope given our views are being challenged.

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08/09/2023 09:12

Does MM see further M&A opportunities in the lithium sector?

At this stage, local mining giants such as BHP haven’t considered the sector because earnings wouldn’t move the dial on their balance sheet but never say never as the industry evolves i.e. this is unlikely to be a playing field for the large end of town over the next 12 months. However, this remains a hot/active space.

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01/03/2023 09:29

ETFS Battery Tech & Lithium ETF (ACDC) $94.43

This ETF has been grinding higher over recent quarters and we believe it will break above the 100 level after consolidating solid post COVID gains. • We currently like holding this ETF which aims to track thee Solactive Battery Value-Chain Index. NB The top holdings in this ETF include Renault, Mercedes-Benz, Nissan, Mineral Resources and Delta Electronics.

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16/11/2022 09:32

Global X Battery Tech & Lithium ETF (ACDC) $93.52

Following on from our previous comments around ESG positioning we felt it was prudent to touch on our ACDC ETF this morning. Clearly by its restrained rally through 2022 and relatively small pullback yesterday it doesn’t move in line with the high beta lithium stocks such as Pilbara (PLS) which fell -8.7%. Morgan Stanley put out a cautious...

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05/10/2022 09:54

ETFS Battery Tech and Lithium ETF (ACDC) $84.22

The ACDC ETF has been frustrating of late as we’ve watched Australian lithium stocks like Pilbara (PLS) soar to new highs – the ETF’s position in Tesla (TSLA) certainly hasn’t helped its performance. However, we still have faith in the theme moving into 2023 and believe it will ultimately regain its mojo over the coming weeks/months i.e. we see no reason to exit this holding.

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14/09/2022 09:31

Global Macro ETF Portfolio

The MM Global Macro ETF Portfolio rallied +3.2% last week enjoying strong gains by the ETFS Battery Tech & Lithium ETF (ACDC) +7.2% and the Global X Copper ETF (COPX US) while our Physical Uranium Trust (U-U CN) -0.5% was the only position to fall.

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19/08/2022 09:23

ETFS Bartter Tech & Lithium ETF (ACDC)

ESG investing is a big theme, bigger than simply one MM note can deliver, and there are many varied parts to this discussion so the simplest place to start is via an ETF which reduces stock-specific risk.

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