[REPLAY] Otavio Costa: Precious Metals Deep Dive (2023)

Precious metals are starting to move. Otavio Costa was pounding the table on gold and silver back in 2023. This is a replay of that conversation.

I hope you guys enjoy!

Hey Guys! This episode, we hear from Tavi Costa, portfolio manager at Crescat Capital, and get his insights into the precious metals industry. Tavi talks about the importance of precious metals CAPEX and explains how the demand for precious metals, specifically gold, affects the industry. He also discusses the differing opinions of gold bears. Tavi shares his thoughts on the inflation super cycle and how it impacts investing criteria. He also talks about identifying mistakes and valuing precious metals equities.

• [0:00] Who is Tavi Costa?
• [6:00] Precious Metals CAPEX
• [22:00] PM Demand: The Use of Gold
• [33:00] Gold Bears
• [40:00] The Inflation Super Cycle
• [50:00] Investing Criteria
• [59:00] Identifying Mistakes
• [1:08:00] Valuing PM Equities
• [1:19:00] More from Tavi Costa and Closing Questions

If you enjoyed this podcast, please check out Otavio on Twitter ⁠@TaviCosta⁠ and read his latest research at ⁠Crescat Capital⁠.

Finally, thanks to the following sponsors for making the podcast a reality!

Mitimco

This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns to support MIT's mission. To help the emerging manager community more broadly, they created ⁠emergingmanagers.org⁠, a website for emerging manager stockpickers.

I highly recommend the site for those looking to start a stock-picking fund or learn how others have done it. You'll find essays and interviews by successful emerging managers, service providers used by MIT's own managers, essays MITIMCo has written for emerging managers, and more!