Commodities, Markets & Geopolitical Considerations

Featured Guests

Paul Lucek

CEO & Co-CIO, Richdale Advisors

Paul Lucek leads Richdale Advisors with a scientific and quantitative approach, steering systematic global macro investment strategies. With origins dating back to 1983, Richdale blends deep research and active risk management across commodities, blending alpha and beta strategies. Paul’s background in biology and data-driven analytics informs his innovative methods for navigating complex commodity markets. Under his leadership, the firm has developed sophisticated momentum and value strategies designed to capitalize on commodity cycles and market anomalies.

Andrew B. Weisman

Chief Investment Strategist, Windham Capital Management,

Andrew B. Weisman is chief investment strategist at Wyndham Liquid Alternatives, a firm renowned for its quantitative and research-focused approach. With an award-winning track record in academic and professional finance, Andrew specializes in crafting strategies that harness risk factors and market signals across multi-asset and commodity portfolios. His expertise lies in identifying momentum and volatility patterns to create diversified exposure. Andrew’s insights help institutional investors navigate the challenges and opportunities inherent in modern commodity and alternative markets.

Key Insights From This Episode

Commodities: Supply Constraints Meet Surging Demand

Current commodity price rises stem from long-term underinvestment coinciding with increased post-pandemic demand, driving potential cyclical price appreciation.

Momentum Strategies Offer Risk Mitigation

Active management using momentum and trend-following capture commodity market anomalies, yielding returns through volatility spikes tied to exogenous shocks like geopolitical events.

Commodities Provide Unique Diversification Benefits

Low correlations among commodity sectors and with traditional assets underscore their value in mitigating portfolio risk and enhancing returns.

Volatility Signals Structural Shifts in Markets

Rising volatility reflects heightened systemic risk fueled by policy shifts and geopolitical disruption; however, it also generates trading opportunities for informed investors.

Integrated Role of ESG and Commodity Trading

Evidence suggests commodity trading activities generally improve liquidity and price discovery, with ESG factors influencing sector dynamics amid energy transition trends.

Critical Need for Sophisticated Portfolio Construction

Plain exposure to commodity indices can underperform due to structural cost biases; skilled active management with assets allocation flexibility is essential.