Kerr Neilson on Oil Shocks and Why Gold Will Hit $8,000

Kerr Neilson, the legendary contrarian investor behind Platinum, lays out a bold case for why the next decade may belong not to AI darlings. He argues markets are entering a period of profound disruption, pointing to geopolitical fragmentation, war in the Middle East, and fragile global oil supply as long-term threats- warning these forces are reshaping markets. Beyond the macro themes, he offers practical insights for advisers: the dangers of crowded trades, the inefficiencies created by passive investing, and the importance of contrarian thinking in an ETF-dominated world. His message is clear. The biggest opportunities often lie where capital has been scarce. 00:00 Introduction 01:18 Why Return To Funds 03:22 Uncorrelated Quant Fund 04:26 ETFs Vs Active Paradox 07:09 Contrarian Investing Playbook 10:24 Portfolio: Samsung & Metals 12:59 Gold And Platinum Bull 14:21 Dollar Decline Emerging Markets 18:20 Commodities Supercycle 21:05 Oil Supply Market Risk 23:56 Invest In “Atoms” 25:38 Adviser Takeaway This episode was recorded 03/03/2026. ——— CPD Points: This episode is accredited for the following CPD points by the Financial Advice Association of Australia (FAAA). 0.50 Total Hours Knowledge Requirements: Managed Investments (0.50 hour) | Legislated CPD Area: Technical Competence (0.50 hour) Complete the quiz here to claim your points (https://equitymates.com/episode/kerr-...) ——— Want more Basis Points? Sign up to the Basis Points Newsletter here: https://basispoints.beehiiv.com/subsc... Follow Basis Points on LinkedIn:   / basis-points-by-equity-mates   Have a question? Send us a message on our website (https://equitymates.com/get-in-touch/) ——— Basis Points would not be possible without the support of our three launch partners: Orbis - Invest differently - https://www.orbis.com/au/investor/home Milford Asset Management - Invested in the outcome - https://milfordasset.com.au/ CBOE - Local market, global opportunities - https://www.cboe.com/au/equities/ Thank you to all three partners for helping us keep all of our content free and accessible. ——— Basis Points is a product of Equity Mates Media. This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives. Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional. Equity Mates Media operates under Australian Financial Services Licence 540697.