Former power trader Fred Seguy joins us to talk about hispath to the trading floors at EDF, Gunvor and Shell and on to running his own book.
Fred writes the Fred's Corner Substack and walks us throughhow he blends fundamentals, charts and risk management across commodities and equities, after decades honing his craft.
• Risk management, Taleb and why "nothing is guaranteed"• How he avoids killing profits from over-trading• His call on oil earlier this year and why he now sees an $80-85 floor• Why he's sitting out copper and doesn't buy the AI power demand story• Nickel's cost curve, uranium via Sprott and Yellowcake, and his PGM and gold positions• Brazil and Vietnam as EM value plays heading into elections
Fred’s Corner Substack: https://fredscorner.substack.com/
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TIMESTAMPS
(00:00) Who is Fred Seguy
(04:50) Weather and Renewables Edge
(11:30) Oil Long Thesis Example
(18:20) Copper and the Narrative Trap
(25:00) Nickel Cost Curve and Carry
(30:30) PGMs and Gold Breakouts
(34:50) Oil Floors
(38:07) Emerging Market Bets
(43:52) Rapid Fire
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