Fund Managers Are Betting On China Stocks And Commodities As The Country Reopens

This week I’ve been attending the 26th Annual CIBC Western Institutional Investor Conference in Whistler, British Columbia. It’s the first time in three years that we’ve been able to meet in person, which is great because Zoom fatigue is real, and research shows that human brains need face-to-face interaction.

The view in Whistler is spectacular, and although it’s one of North America’s premiere ski towns, I’ve been busy catching up with old friends, meeting new management teams and getting updates from energy companies and top gold royalty names. Among those that were also in attendance were Franco-Nevada, Royal Gold, Wheaton Precious Metals and Osisko Mining.

Interestingly, there were many discussions on artificial intelligence (AI) and, more specifically, ChatGPT. You may have already heard of it. Created by the tech startup OpenAI, ChatGPT is a free, open-source chatbot that generates startingly human responses.

Investors and business leaders are already looking into ways to use the technology, including business strategy, quantitative research and trading.

The future will be dominated by AI, and big tech firms are jockeying to get ahead of their peers. Microsoft recently announced a $10 billion investment in OpenAI. As the saying goes, you are either the disrupter, or you’re being disrupted.

Fund Managers Betting Big On China’s Reopening

This weekend marks the start of the year of the Water Rabbit, based on the Chinese lunar calendar. The combination of the rabbit and yin water “bodes well for a calmer 2023 compared to last year’s tumultuous experience,” writes CLSA in its annual Feng Shui Index.

Deutsche Bank, meanwhile, believes 2023 “will be a year of transition toward more normalcy after the bust and boom pattern of the last few years.”