The 3 Trades That'll Win the Next Decade (Michel Mamet)
Michel Mamet started his fund on 3 key pillars. Gold, energy, and resources.
His strategy has returned ~90% since inception 18 months ago.
In this conversation, Michel walks through the three foundations of the fund, why he built it to invest globally from day one, and why he sees Australia as an increasingly difficult place to deploy capital.
We get into the mechanics of the recent gold sell-off, his view that the Strait situation is far more significant than markets are pricing, the energy-as-economy thesis, and where he sees the best copper and gas exposures globally.
Topics covered:
- From banking to launching GERAF
- The macro drivers behind gold's third bull market since the '70s
- How the Hormuz disruption is triggering a gold liquidity squeeze
- Gas over oil: Why Michel sees a longer runway for gas
- What the majors investing offshore tells us about Australia's investment climate
Follow Michel:
LinkedIn - https://www.linkedin.com/in/michel-mamet-b6541518/
Website - https://www.geraf.com.au
Episode recorded: 03/06/2026
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TIMESTAMPS
(0:00) Meet GERAF Fund
(5:40) Why Gold, Energy, & Resources
(11:10) Global Mandate & Australia
(16:40) Gold and Energy Macro
(25:10) Uranium, Copper, and Closing
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