By: Wilson
It’s hard to find “value” these days. In the energy world, there are some important investment themes we see for the years ahead, but the issues are 1) timing and 2) value. These themes are:
The end of non-OPEC supply growth is coming. The oil market will be heading for a structural supply deficit after the 2026 to H1 2027 glut.
In order to meet the supply growth needs for the decades ahead, offshore will be a key sector. This is a multi-year trend.
Natural gas and Uranium will be the key to fueling the AI datacenter demand boom in the years ahead. Massive LNG export expansion in the US will fundamentally alter the way global LNG is priced.
Many of these long-term energy themes take a long time to play out. There are many peaks and troughs along the way, and the journey is usually never very smooth. While it’s my job to help you navigate through, readers must understand that when there’s nothing “cheap”, it’s my job to tell you the truth whether you like to hear it or not.
On Oct 22, I published a piece on the “major” changes I’m making to the HFI Portfolio. The key premise here is that a lot of the mistakes I’ve made so far in my career have to do with position concentration. I’ve vowed to keep position sizes below 10% and work harder at finding more ideas.
Well... we did find more ideas, and sadly, a lot of you don’t really care about them (lol).
What are those ideas?