Why Generalists Can’t Ignore Commodities Anymore (Sam Berridge)

Jan 23, 2026

52:59

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Sam Berridge of Perennial Value Management joins us to pick apart the huge start to 2026 in the commodity markets.

With gold pushing toward $5,000, copper at all-time highs, and generalist investors looking to flood back into resources, we explore the drivers behind each move.

Sam shares his insights on the copper supply dynamics, where value in gold still is, uranium positioning, PGMs, aluminum refining challenges, the Rio-Glencore merger implications, and why humanoid robots might be in your home by 2030.

Connect with Sammy here:

LinkedIn: https://www.linkedin.com/in/sam-berridge-8150a02a/

Twitter/X: https://x.com/strikeextent

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TIMESTAMPS

(0:00) Intro & 2025 market overview(4:00) 1970s commodity boom comparison(10:00) Weaponization of commodities & supply chains(15:20) Copper rally and strategic stockpiling(20:50) Uranium market dynamics(27:00) Gold breaking $5,000(39:00) Aluminum supply crisis(49:00) Humanoid robots revolution

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