Platinum vs. Brazilian stocks.
On the surface, these markets look unrelated.
In reality, both are downstream expressions of the same secular gold-driven cycle.
Investing is an exercise in accepting risk and understanding second- and third-order effects.
If you like gold, you eventually move to silver, then copper, then the miners.
From there, it’s not a stretch to consider platinum and palladium, emerging markets, and ultimately Brazilian equities.
I’m particularly drawn to second- and third-order investment opportunities that remain largely under the radar.
And to be clear, this is not a short-term trade.
I believe the long-term case for investing in the Brazilian economy over the next 5–10 years is exceptionally compelling.
