Three Stock Picks Reviewed & Jurisdictional Insights Most Miss with Massif Capital’s Will Thomson

About this episode

Will Thomson discusses stock picks and the nuances of country-specific risks in investment.

Will Thomson of Massif Capital reviews three stock picks he has shared on MSE over the years and discusses two other stocks he currently owns. He also explains why “country risk” is company-specific and depends on the relationship between a firm and the state, not an inherent risk in a country. Thomson argues consistent returns in real-asset equities come less from predicting commodity prices and more from identifying management teams that execute, noting commodity price explains much of day-to-day moves but little of longer-term equity returns beyond about 90 days. 00:00 Show Intro and Guest 01:29 Easy Money vs Full Cycle 03:00 Why Commodities Cancel Out 07:15 Where Massive Cap Invests 09:05 Equinox Gold Playbook 12:17 Kazatomprom Fundamentals Win 15:10 Global Atomic and Niger Risk 22:05 Fixers Versus Bribes 23:06 Playing the Lobbying Game 24:29 Mexico Cartel Risk 27:17 Jurisdictional vs Geological Risk 27:57 Alphamin Exit Strategy 30:15 Security Versus Jurisdiction Risk 31:15 Lithium Americas Trade Lessons 32:54 Favorite Metals Right Now 33:45 Fund Management Marketing 36:46 Where to Follow Will https://x.com/wmthomson22 https://massif.substack.com/ Sign up for our free…

People in this episode

Host: Bill Powers

Guest: Will Thomson

Topics covered

• stock picks
• country risk
• management teams
• commodity prices
• jurisdictional risk
• investment strategies

Keywords

• stock picks
• country risk
• management execution
• commodity prices
• investment strategies
• jurisdictional risk
• Equinox Gold
• Kazatomprom
• Alphamin
• Lithium Americas

Mentioned in this episode

Organizations: Massif Capital, Mining Stock Education

Products: Equinox Gold, Kazatomprom, Alphamin, Lithium Americas

Places: Mexico, Niger

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