Fund Manager Predicts Economic Chaos in 2024, Recommends Uranium, Oil Stocks to Ride Out Volatility
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Fund manager Harris Kupperman is preparing for increased volatility and economic chaos in 2024. He believes inflation will remain high and interest rates will rise more than expected.
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Kupperman is confident uranium prices will continue to increase as nuclear power plants are forced to pay higher prices. He recommends Sprott Physical Uranium Trust Fund (SRUUF) and Yellow Cake (YCA.L) for exposure.
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Kupperman thinks oil prices will likely rise back to $100/barrel in 2024 as global production remains low. He believes offshore drilling stocks like Tidewater (TDW) and Valaris (VAL) are good investments if this happens.
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Praetorian Capital Fund is up 18.3% YTD, beating the S&P 500. But Kupperman remains unsatisfied and believes the fund will do much better during increased volatility.
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Key risks Kupperman sees rising inflation, higher interest rates, US fiscal issues, global political tensions. He believes these could cause volatility and economic troubles in 2024.