What a Commodity Supercycle Would Mean for Australia - Greg Cassidy | Milford

Commodity markets are back in focus. Gold has more than doubled in recent years. Lithium has flipped from surplus to deficit and iron ore continues to quietly underpin the Australian economy. So is this the start of something bigger, like a commodity super-cycle In this episode, we’re joined by Greg Cassidy, Senior Analyst at Milford, to unpack the forces driving the global resource rally and what it means for adviser portfolios. We cover: The three macro forces behind the surge: deglobalisation, decarbonisation and AI. The outlook for LNG. Why iron ore still matters most for Australia’s budget and equity index. Greg’s key takeaway for advisers: why “you should own resources” and how to think about active vs passive exposure in a volatile sector. ——— 00:00 Super Cycle Teaser 00:37 Commodity Super Cycle Setup 02:46 Three Drivers of the Rally 08:42 Supply Constraints Emerging 10:35 Australia in US–China Split 12:41 Global Decarbonisation Leaders 14:21 Gold, Dollar and Real Assets 16:46 Commodities to Watch Now 19:15 Copper’s Structural Deficit 20:50 Lithium Volatility Explained 23:11 LNG Supply and Demand 26:12 Australia’s Key Export Exposures 31:01 Portfolio Positioning for Advisers 35:25 Avoiding Resource Investing Mistakes Before you invest, be sure to read the Milford Funds Product Disclosure Statements and Target Market Determinations at https://milfordasset.com.au/documents... You can read the full disclaimer at https:/milfordasset.com.au Then include this below out AFSL disclaimer - Equity Trustees Limited (“Equity Trustees”) (ABN 46 004 031 298), AFSL 240975, is the Responsible Entity for the Milford Australian Absolute Growth Fund, Milford Corporate Bond Plus Fund, Milford Australian Active 100 Fund, and Milford Dynamic Small Companies Fund. Before you invest, be sure to read the Milford Funds Product Disclosure Statements and Target Market Determinations at https://milfordasset.com.au/documents... ——— CPD Points: This episode has been accredited for CPD points by the Financial Advice Association of Australia (FAAA). To claim your points, complete the CPD Quiz on the episode page and we'll send you your certificate (https://equitymates.com/episode/what-...) ——— 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.