Why 2026 is the Year of Resources - Luke Laretive

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Jan 26, 2026

Luke Laretive, CEO of Seneca and resource-focused investment manager, shares his bold 2026 call that resources lead the market. He breaks down commodity drivers, why many managers will miss the trade, and contrasts ETFs with stock picking. He highlights top commodity plays, big-miner positioning, and two speculative stocks he thinks could 10x.

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INSIGHT

Commodities Are Broadly Gaining

Multiple commodities (lithium, copper, gold, nickel) are already moving higher across the board.
Luke believes pro-cyclical base metals and bulk commodities offer the best opportunities now.

INSIGHT

Managers May Miss The Rotation

Many fund managers will miss the rotation because they're mandated away from resources or lack competence.
That money will likely flow into liquid large-cap resources rather than tech or industrials.

ADVICE

Prefer Select Picks Over Blind ETF Bets

Use diversified exposure like a resources ETF if you want broad commodity beta.
But prefer picking operators with good valuation and project quality for better risk-adjusted returns.

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Luke Laretive is our first guest in the studio for 2026 and he's wasting no time, laying out his call for the year ahead: 2026 is the year of resources.

We're diving deep into commodity cycles, big-cap miners and two stocks Luke says have genuine 10-bag potential.

For more tips from Luke, subscribe to his newsletter at https://senecafs.com.au/subscribe

In this episode:

01:55 Why 2026 is the year of resources

06:27 What’s driving prices

09:09 Why many fund managers will miss the trade

12:36 Top picks by commodity

17:10 The big miners: BHP, Rio & merger talk

21:02 Lithium outlook

22:52 Two stocks with 10-bag potential

24:44 Portfolio construction & commodity exposure

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