“We’re Selling Oil Stocks Now” says Resource Fund Manager Adrian Day

Bill Powers interviews resource fund manager Adrian Day about market volatility tied to war in Iran, comparisons to the late 1970s, and positioning in gold, oil, and commodities. Day argues the U.S. is moving into stagflation as employment and retail weaken while inflation remains stubborn, citing issues with unemployment data, rising credit card debt, and consumers trading down. He explains gold often rises before geopolitical events and then sells off as profits are taken, while remaining bullish on gold over the next 6–12 months. On oil, he says the oil stocks have rerated and are not especially cheap, so he has been selling oil stocks recently. Day expects commodities to benefit from underinvestment cycles and discusses copper supply constraints, demand risks from EVs and data centers, and his investment in Lara Exploration. 00:00 Intro 00:29 War Iran and 70s Echoes 01:42 Why Gold Shrugs Off War 04:12 Long Term Gold Bull Case 04:49 Oil Setup and ESG Headwinds 07:31 Stagflation Jobs and Spending 13:57 Inflation Reality Check 16:00 Commodities and Supply Cycles 18:27 Copper Shortage and Substitution 20:14 EVs Data Centers Demand Debate 25:11 Copper Investing and Recycling 28:00 How to Play Gold Stocks 35:37 Lara Exploration Thesis 39:44 Website Resources and Wrap Up https://adriandayassetmanagement.com/ Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 Mining Stock Education (MSE) offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations or objectives. Readers and listeners should seek professional advice, make independent investigations and assessments before investing. MSE does not guarantee the accuracy or completeness of its content and should not be solely relied upon for investment decisions. MSE and its owner may hold financial interests in the companies discussed and can trade such securities without notice. If you buy stock in a company featured on MSE, for your own protection, you should assume that it is MSE’s owner personally selling you that stock. MSE is biased towards its advertising sponsors which make this platform possible. MSE is not liable for representations, warranties, or omissions in its content. By accessing MSE content, users agree that MSE and its affiliates bear no liability related to the information provided or the investment decisions you make. Full disclaimer: https://www.miningstockeducation.com/disclaimer/