Our Themes for 2025

  1. US outperformance likely over by end of Q1.
  2. Electrification & Nuclear Energy continues to be our macro theme of the decade
  3. Gold in a structural bull run
  4. China is increasingly looking tradeable
  5. Argentina – Revival and the beginning of a new shale revolution
  6. Canadian assets in trouble
  7. India - structure of the Indian economy is undergoing a change … select small and mid-caps to outperform large caps.